The employees, representing 7% of the bank's work force, will take voluntary early retirement by the end of 2021.
Israel Discount Bank (TASE: DSCT) has announced plans to downsize its work force by the end of 2021. The bank has announced that 620 employees will take voluntary early retirement by the end of 2021, representing 7% of the number of employees as of the end of 2019. Taking into account employees who will reach retirement age between now and the end of next year, Discount Bank is in fact downsizing its work force by 9%.
The announcement comes several days after Discount Bank's credit card unit CAL - Israel Credit Cards Ltd. announced that it is laying off 60 employees.
Published by Globes, Israel business news - en.globes.co.il - on October 20, 2020
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Israel Discount Bank