Digital Bank ONE ZERO to Cut Up to 10% of Staff in Efficiency Drive
Translated & summarized from Bizportal by baba
Digital bank ONE ZERO is laying off 7-10% of its staff, about 25-30 employees, as part of an efficiency drive to reach profitability. The move is driven by increased automation and AI, aiming to reduce costs and accelerate the bank's path to breakeven by year-end and annual profit in 2027. Despite consistent improvements and growing revenues, the bank has accumulated significant losses since its founding.
The story in 5 lines · by baba
- Digital bank ONE ZERO will dismiss 7-10% of its workforce, approximately 25-30 employees.
- The layoffs are part of an efficiency plan to achieve profitability by year-end 2026.
- Increased automation and AI are key drivers for streamlining operations and reducing staff.
- The bank aims for annual profitability in 2027, having reported losses in previous years.
- ONE ZERO's customer base has reached 200,000, with securities trading as a major revenue source.
The digital bank ONE ZERO is implementing an efficiency plan that will result in the dismissal of approximately 25-30 employees, representing 7-10% of its workforce. The bank currently employs around 350 people, including contract workers and external service providers. This reduction is primarily driven by the increased use of automation and artificial intelligence, which enable the bank to streamline operations and reduce the need for human personnel in certain areas.
Beyond technological streamlining, the move is also aimed at achieving profitability. ONE ZERO, founded by Amnon Shashua, continues to incur losses, though these are decreasing. In the first half of 2026, the bank reported a loss of approximately 84 million shekels, a 27% decrease from the same period in the previous year. Revenues grew by 33% to about 66 million shekels, while operating expenses fell by 10% to 149 million shekels.
The bank anticipates reaching operational breakeven and its first profitable month by the end of the current year, with the goal of achieving annual profitability in 2027. The current layoffs are seen as a step to accelerate progress toward this target by reducing fixed costs. Combined with continued revenue growth, this could bring the bank closer to its breakeven point.
Recent data indicates a shift in the bank's operational model, with its customer base reaching approximately 200,000. Its securities trading activities have become a significant revenue driver, accounting for about 30% of the bank's income in the second quarter, while expenses have decreased due to technological efficiencies and reduced outsourcing.
Despite consistent improvements, the path to profitability is not yet complete. ONE ZERO experienced losses of 214 million shekels in 2025, following losses of 268 million shekels in 2024 and 357 million shekels in 2023. The cumulative loss since its inception stands at about 1.2 billion shekels. To achieve profitability, the bank must continue to increase revenue while maintaining low expenses, and the current workforce reduction marks a new phase in its efficiency efforts.
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