Israel Discount Bank cuts 650 outsourced workers

The layoffs are part of the bank's restructuring plan, which will come into effect in early 2009.

Israel Discount Bank is planning to lay off 650 people over the course of a year, mostly outsourced employees of the computer work force, as part of an overall efficiency plan following the completion of the bank's database migration project. Israel Discount Bank will cut 300 outsourced personnel during 2009, after it cut 350 positions in March 2008. The layoffs are part of the bank's restructuring plan, which will come into effect in early 2009.