One Zero layoffs: Israel's digital bank is cutting about 25 jobs, 7% of staff, and its chief executive says AI lets it grow without adding people

One Zero, the Israeli digital bank founded by Mobileye's Amnon Shashua, is cutting about 25 jobs, roughly 7% of a workforce of around 350, and leaving about ten more positions unfilled, Calcalist reported on 11 October 2026. Staff were told on Sunday morning. In his letter to employees, chief executive Eyal Gafni wrote that the bank must remain a fast, agile and efficient organisation at all times and described the cuts as enabling us to continue growing without expanding our workforce or cost base. The bank said the adjustments are being made wherever technology helps us accelerate processes, and Gafni pointed to advances in AI as the way it streamlines work; the cuts are spread across departments rather than concentrated in one. One Zero has said since 2025 that it plans to expand automation and generative AI to keep operations efficient and reduce staffing needs, and it is targeting profitability in 2027. What the bank has not said is that AI is doing the work of the people leaving: the stated reason is efficiency and cost discipline, with AI as the tool that makes a leaner structure possible. That is why this is recorded as an article and not as a counted AI job loss in the AI layoffs tracker. It is the bank's third round of cuts since 2024, when it laid off more than 50 people, about 14% of staff, after shelving an Italian expansion.