The chairman of Royal Bank of Scotland has called for an end to the 'public flogging' of the beleaguered bank, as he admitted it will be making further job cuts, reports The Telegraph .
Sir Philip Hampton, chairman, and Stephen Hester, chief executive, will face angry shareholders at the bank's annual general meeting in Edinburgh today, given the Government was forced to rescue the bank from its disastrous management under former boss Sir Fred Goodwin. "We have suffered a major financial hit and continued collateral damage from public criticism will compound the problem not resolve it," Sir Philip said. RBS has already cut 2,700 posts and Mr Hampton warned this was "not the end of the story" in the text of a speech to be delivered later today. Full story...
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