Bicester-based BGP employs 550 staff across three sites and is part of the Goodhead Group owned by Reading FC chairman Sir John Madejski.

BGP chairman David Holland said falling market prices meant the firm needed to make savings of £2m.

Union Unite called the company's plans a "hammer blow to the 550 staff who have made BGP the success it is today".

A consultation will start on Tuesday on the potential cuts, which BGP said was the alternative to making redundancies.

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