Alison Penfold, 46, was due to carry the flame on July 10 after she won a draw in November 2011 run by Panasonic.
She had worked for six years as a receptionist at the Bracknell headquarters of the elecontronics company, which was allocated torchbearer spaces for being an Olympic sponsor. Ms Penfold's contract transfered to Panasonic's contractor Sodexo in April 2011 but she was still eligible for the draw.
Ms Penfold, from Jennett's Park, said: "I'm gutted. It was my once-in-a-lifetime chance to do something like that and go down in history."
Ms Penfold was made redundant in March and told later she had lost the chance to carry the torch.
Panasonic said it was clearly stated in the rules that torchbearers had to be working for Panasonic or Sodexo at the time of the relay.
For more, see the May 24 edition of the News.
* What do you think? Comments can be left below or email email@example.com