Bank Leumi issued a statement to the tel Aviv stock exchange, according to which until the end of 2017, the staff of the Bank will be reduced by 500-600 people.
The reduction will be carried out in the framework of the voluntary resignation. Employees close to retirement age, will be offered care to early retirement payments before reaching retirement age. The rest will be offered a dismissal in exchange for payment of higher compensation.
This program is part of the reorganization of the Bank with the aim of increasing efficiency. From 2012 to 2016, the state Bank reduced by 2.200 employees.