Israeli digital bank One Zero said it would lay off 23 of its 350 employees as part of cost-cutting plans. The layoffs will affect all departments except customer service.
This is the second round of layoffs after 30 workers were laid off in January.
It was also announced that a joint project with the Italian bank Generali to create a digital bank in Italy was suspended.
The bank emphasizes that the project has not been cancelled at the moment, but has been postponed until the end of the war, although the start of the project was announced in January 2024, after the war had already begun.
Bank One Zero, established in 2022, is currently still unprofitable despite the growth of deposits and loan portfolio.