One Zero Bank Cuts 10% of Staff Despite 33% Revenue Growth
Translated & summarized from Maariv by baba
Digital bank One Zero is laying off 10% of its staff, impacting 25 to 30 employees, despite a 33% revenue increase in the first half of 2026. CEO Eyal Gafni cited the need for efficiency due to AI advancements and increased competition. This is the bank's third round of layoffs in three years, occurring as it crossed 200,000 customers and reduced its net loss.
The story in 5 lines · by baba
- One Zero Bank will lay off 25 to 30 employees, about 10% of its workforce.
- The layoffs occur despite a 33% revenue increase in the first half of 2026.
- CEO Eyal Gafni cited AI developments and increased competition as reasons for the cuts.
- The bank reported revenues of NIS 66 million and a reduced loss in early 2026.
- This is the third round of layoffs at One Zero in three years.
Digital bank One Zero is preparing to lay off between 25 and 30 employees, approximately 10% of its workforce, even as the company reported a 33% increase in revenue.
CEO Eyal Gafni attributed the layoffs to the need for efficiency in the face of growing competition and the transformative impact of artificial intelligence. He noted that the rapid development of Generative AI is already changing how organizations operate, develop products, and serve customers. Gafni views this as an opportunity for One Zero, given its foundation on modern technology, data, automation, and AI.
In addition to technological shifts, Gafni pointed to changes in the competitive landscape, with new players expected to enter the market and existing financial institutions expanding their offerings. He emphasized the bank's need to remain a fast, agile, and efficient organization to continue growing without a proportional increase in staffing and expenses.
This marks the third round of layoffs at One Zero in the past three years. The current cuts occur despite the bank's recent business improvements, including surpassing 200,000 customers. In the first half of 2026, One Zero reported revenues of NIS 66 million, a 33% rise year-over-year. Operating expenses decreased by 10% to NIS 149 million, and the net loss narrowed by 27% to NIS 84 million.
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