Job may be on the line (7)
I believe the answer is:
station
'job' is the definition.
(thesaurus)
'be on the line' is the wordplay.
'be' becomes 'sati' (I can't explain this - if you can you should give a lot more credence to this answer).
'the' becomes 't' (the is pronounced as a 't' sound in some dialects).
'line' is an insertion indicator.
'sati'+'on'='sation'
'sation' going around 't' is 'STATION'.
'may' acts as a link.
Can you help me to learn more?
(Other definitions for station that I've seen before include "Military base; rail stop" , "Regular stopping place on transport system" , "Small military base" , "HQ - stopping place - post" , "TV or radio channel" .)