One Zero Bank to Lay Off 7% of Staff Amid Efficiency Drive
Translated & summarized from Ynet by baba
One Zero Bank is laying off approximately 25 employees, or 7% of its staff, as part of an efficiency drive. The bank will also cancel hiring for 10 positions, reducing its workforce by 10% from its original plan. This move coincides with the bank's expansion of automation and AI usage, alongside reported growth and improved financial outcomes. CEO Eyal Gafni acknowledged the difficulty of the decision in a letter to employees.
The story in 5 lines · by baba
- One Zero Bank will dismiss approximately 25 employees, constituting 7% of its workforce.
- The bank is also canceling hiring for 10 positions, reducing its planned staff by 10%.
- The layoffs are part of an efficiency drive that includes increased use of automation and AI.
- The bank reported growth in operations and improved financial results alongside the cuts.
- CEO Eyal Gafni called the decision difficult, praising the departing employees.
One Zero Bank is initiating 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 forgo hiring for 10 additional positions, meaning the total staff will be about 10% lower than originally planned. This decision comes as the bank increases its use of automation and artificial intelligence tools, while also reporting 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 Bank CEO Eyal Gafni described the decision as "difficult," acknowledging the departing employees as individuals who "built ONE ZERO together with us, invested in it, and were a significant part of the journey we have taken and our successes."
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