26 jobs are at risk with ferry operator Stena Line at Holyhead on Anglesey and at Fishguard in Pembrokeshire.
The company says 21 positions in Holyhead, and 5 in Fishguard are at risk of redundancy.
A company spokesperson said: "Our ferry operations have been losing money for a number of years which is clearly not a sustainable position. Following a comprehensive review of our European operations, we have identified a number of areas in which we need to become more efficient and reduce costs.
The company says its services will not be affected by the proposals.
Police have named the man who died after becoming trapped in a trench in Letterston yesterday as 54 year old Glyndwr Richards from Crymych.
Glyndwr was a kind, loving man, and a legend in Crymych. He was closely associated with Crymych rugby club, and it brought him much enjoyment. We have suffered a terrible loss, and he will be greatly missed by us all
Emergency services are trying to free a workman buried in a trench near Fishguard in Pembrokeshire. The man was working inside the trench in the village of Letterston when the sides caved in. A specialist rescue crew is at the scene, along with firemen and paramedics.
A Dyfed Powys Police spokeswoman said:
Pembrokeshire officers are in attendance at an incident in Letterston where it was reported that a man has been trapped in a trench at about 10.10am. All emergency services are at the scene working on the delicate operation to free the man.