telephone exchange vs workplace

telephone exchange and workplace both are nouns.

Word	Noun	Adjective	Verb	Adverb
telephone exchange	Yes	No	No	No
workplace	Yes	No	No	No

As nouns, workplace is a hypernym of telephone exchange; that is, workplace is a word with a broader meaning than telephone exchange:

telephone exchange: a workplace that serves as a telecommunications facility where lines from telephones can be connected together to permit communication
workplace: a place where work is done

Other hypernyms of telephone exchange include work.

telephone exchange (noun)	workplace (noun)
a workplace that serves as a telecommunications facility where lines from telephones can be connected together to permit communication	a place where work is done