Digital Bank One Zero Cuts 25 Jobs Amid Automation Push
Translated & summarized from Calcalist by baba
Digital bank One Zero is laying off approximately 25 employees, or 7% of its workforce, as part of a new efficiency drive. The bank is also freezing recruitment for ten positions, reducing its planned staff by 10%. This move is driven by increased automation and AI adoption, allowing for a leaner operational structure. The bank has now dismissed over 50 employees in 2024, even as it reports financial improvements and growth, with a customer base exceeding 200,000.
The story in 6 lines · by baba
- One Zero is cutting 25 jobs, 7% of its staff, as part of a new efficiency round.
- The digital bank is also freezing recruitment for ten positions, reducing planned staff by 10%.
- The layoffs are attributed to increased automation and AI adoption, enabling a leaner structure.
- This is the third round of layoffs for One Zero in 2024, totaling over 50 employees.
- The bank reports operational growth and improved financial results despite the workforce reductions.
- One Zero anticipates achieving profitability in 2027 and has surpassed 200,000 customers.
Digital bank One Zero is implementing another round of efficiency measures, which will result in the dismissal of approximately 25 employees, representing about 7% of the bank's 350-person workforce. Concurrently, the bank will halt recruitment for about ten additional positions, leading to a workforce approximately 10% smaller than originally planned. This move coincides with the bank's increased use of automation and artificial intelligence tools, alongside reported growth in its operations and improved financial results.
Employees being let go were summoned on the morning of the announcement. In a letter to staff, One Zero CEO Eyal Gafni described the decision as difficult, acknowledging the contributions of the departing employees who "built ONE ZERO together with us." The layoffs are not concentrated in a specific department but are occurring "wherever technology helps us accelerate processes," according to the bank.
Gafni emphasized the bank's transition from its establishment phase to a stage requiring large-scale growth without a proportional increase in expenses. He stated that to remain a "fast, flexible, and efficient organization," the bank must adapt its workforce and cost base. While Gafni noted the role of AI in simplifying and accelerating processes, the bank clarified that the departing employees are not being directly replaced by AI. Instead, the expanded use of automation and generative AI enables the bank to operate with a leaner structure.
This marks One Zero's third round of layoffs in 2024, following the dismissal of over 30 employees earlier in the year and another 23 in September, bringing the total to over 50 for the year. Despite these cuts, the bank is reporting operational growth and a narrowing loss, aligning with its strategy outlined in 2025 reports that emphasized automation to maintain operational efficiency and reduce costs.
Salary expenses at the bank decreased by 8.8% in 2025 to 120 million shekels, down from 131.7 million shekels in 2024, attributed to workforce adjustments and budgetary discipline. Financially, the bank's revenues rose 33% to 66 million shekels in the first half of 2026, while operating expenses fell 10% to 149 million shekels, reducing the loss by 27% to 84 million shekels. The bank recently surpassed 200,000 customers and anticipates achieving profitability in 2027, with Gafni having previously suggested a profitable month was imminent.
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