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Israeli Bank ONE ZERO Cuts 10% of Staff Amid AI Integration
On Sunday, October 11, 2026, the Israeli digital bank ONE ZERO announced a restructuring plan that will lay off approximately 25 to 30 employees, representing 7% to 10% of its 350-person workforce. The bank is also freezing recruitment for 10 planned positions, reducing its target staff size by 10%. Affected employees were summoned for hearings on Sunday morning.
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What happened
- 01Digital bank ONE ZERO is laying off 25 to 30 employees, representing 7% to 10% of its 350-person workforce.
- 02The bank is freezing recruitment for 10 open positions, reducing its planned staff size by 10%.
- 03CEO Eyal Gafni cited the integration of artificial intelligence and automation as the primary drivers for the layoffs.
- 04ONE ZERO reported a 33% revenue increase to 66 million shekels and a 27% reduction in losses to 84 million shekels in the first half of 2026.
- 05The bank has surpassed 200,000 customers and aims to achieve annual profitability in 2027.
- 06This restructuring follows previous workforce reductions, including the dismissal of 23 employees in September 2024.
- 07ONE ZERO was founded in 2019 by Marius Nacht and Professor Amnon Shashua.
CEO Eyal Gafni cited the transformative impact of artificial intelligence and automation, including the bank's proprietary system "Ella," as the primary drivers for the workforce reduction. According to Gafni, these technologies allow the bank to streamline operations, develop products, and improve customer service without a proportional increase in personnel and expenses. The bank also noted a changing competitive landscape with new market entrants and expanding services from existing financial institutions.
The efficiency drive comes despite recent business growth and improved financial results. In the first half of 2026, ONE ZERO reported a 33% increase in revenue to 66 million shekels, a 10% decrease in operating expenses to 149 million shekels, and a 27% reduction in losses to 84 million shekels. The bank, which was founded in 2019 by Marius Nacht and Professor Amnon Shashua, recently surpassed 200,000 customers. It aims to reach operational breakeven by the end of 2026 and achieve annual profitability in 2027.
Summarized by baba from the reports of 11 newsrooms. Updated
Latest report: Cursorinfo. Read Cursorinfo’s original
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