Workforce axe looms for Twyford firm

Shell-shocked workers are facing a bleak summer after all 120 employees at a leading UK property firm in Twyford were told their jobs could be axed.

Staff at Richards Gray, a housing search company which also produces home information packs, were offered voluntary redundancy yesterday as the full effects of the nation's economic slump hit home.

Employees have been told they have until July 28 to submit their redundancy applications.

Richards Gray managing director Mike Richards said with the company entering choppy waters, the job cull was one of three options now being proposed for the future of the company.

He refused to say what the other two were, adding: "It's related to the property market. It's not good at the moment. We need to wait and see where we go from here."