Digital Bank One Zero Cuts 25 Jobs in Latest Efficiency Drive
Translated & summarized from Ynet by baba
Digital bank One Zero is laying off approximately 25 employees, or 7% of its staff, as part of a new efficiency drive. The bank is also pausing recruitment for ten positions, reducing its planned workforce by 10%. This latest round of cuts, the third in 2024, comes as the bank increases its use of automation and AI, while simultaneously reporting business growth and improved financial results. CEO Eyal Gafni stated the decision was difficult but necessary for the bank's evolution towards greater efficiency and scale.
The story in 6 lines · by baba
- One Zero Bank is laying off 25 employees, 7% of its workforce, in its third round of cuts this year.
- The bank is also halting recruitment for ten positions, reducing its planned staff by 10%.
- These layoffs coincide with One Zero's increased use of automation and artificial intelligence.
- CEO Eyal Gafni described the decision as difficult but necessary for the bank's growth and efficiency.
- Despite the cuts, the bank reports growth in operations and improving financial results.
- Since the start of 2024, One Zero has dismissed over 50 employees.
One Zero Bank 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, meaning the staff size will be around 10% smaller than originally planned. This move comes as the bank expands its use of automation and artificial intelligence tools, while also reporting growth in operations and improved financial results. Employees being let go received summons on the morning of the announcement. In a letter to staff, One Zero Bank CEO Eyal Gafni described the decision as "difficult," acknowledging the departing employees' significant contributions to the bank's development and success.
The current layoffs are not concentrated in a specific department, with the bank explaining that adjustments are being made "wherever technology helps us accelerate processes." Gafni emphasized the bank's transition from its establishment phase to a stage requiring larger-scale growth without a proportional increase in expenses. He stated that this evolution, coupled with the ambition to be the best and fairest bank, necessitates a swift, flexible, and efficient organization capable of sustained growth without expanding its headcount or cost base. Gafni also pointed to the advancement of AI tools as a factor enabling the bank to simplify and expedite processes. The bank clarifies that while the expansion of automation and generative AI tools allows for a leaner operational structure, it does not mean the laid-off employees are being directly replaced by AI.
This marks the third round of layoffs at One Zero since the beginning of 2024. Over 30 employees were dismissed early in the year, followed by another 23 in September, bringing the total number of dismissals in 2024 to over 50. At the end of 2025, the bank employed 354 individuals directly, a number similar to its current workforce. Notably, unlike previous rounds, this reduction occurs while the bank is experiencing operational growth and a continuous improvement in its net loss.
Mentioned
The same event, reported separately by each outlet. Open a few to compare what different newsrooms emphasize — and what they leave out.
Centre 4Right 2Other 8
