Around 500 jobs could be at risk in Belfast and Derry at the firm Firstsource's call centres.
The company is Indian-owned and its Derry and Belfast workers, alongside home workers, could be affected.
Foyle DUP MLA Gary Middleton said "I received communication this morning that Firstsource in Londonderry had started a redundancy consultation process today.
"This has created uncertainty and worry amongst staff. This afternoon I met with senior management of Firstsource to receive further information and clarity.
"Due to a decision taken by Sky, 200 employees at the Springtown site, 100 employees in Belfast and 200 homeworkers are affected and undergoing the redundancy consultation process.
"I have been informed that the consultation process will last 3 months and that the priority will be to look at options to safeguard the jobs, support employees and source additional contracts.
"I have stressed to Firstsource management that the consultation process must be fair and transparent and as an elected representative I need to fully understand the impact that this will have on my constituents.
"The additional 370 employees at the Springtown site remain unaffected. I will continue to keep in contact with Firstsource over the coming days and weeks."
Firstsource confirmed in a statement to the BBC that a change in priorities from one of their clients was the reason for the potential job losses.
It said it was a "responsible employer" and was working with its staff to support them through the process.
