Airbus has announced it plans to axe production of its A380 model of super-jumbo passenger jet aircraft in 2021.
It comes as the biggest commercial supporter of the aircraft, Emirates, reduced their most recent order by 39 planes.
Airbus employs nearly 7,500 people in Wales, mostly at its Broughton factory in Flintshire.
Meanwhile, Emirates has also decided to to buy 40 more A330-900 aircraft from Airbus, and 30 A350-900 aircraft.
Airbus says it will be discussing the futures of between 3,000 and 3,500 jobs "potentially impacted over the next three years". Most of these are thought to be based abroad.
After 14 years of making the A380, more than one hundred jobs in Broughton may be threatened by the decision to end the production of the A380.
Airbus said that Emirates had reviewed their operations and in light of aircraft and engine technology developments had reduced their order from 162 A380 aircraft to 123.
Emirates will however receive delivery of 14 new A380s over the next two years.
Airbus said it will start discussions with its "social partners in the next few weeks" regarding the 3,000 to 3,500 positions potentially impacted over the next three years.
However, it also said the "ongoing A320 ramp-up and the new widebody order from Emirates Airline will offer a significant number of internal mobility opportunities".
Transport and Economy Minister Ken Skates said the jobs at Airbus sites in Wales are "hugely important". He added the company "is one of the crown jewels of the Welsh economy".