Subscribe to Print Edition | Tue., December 02, 2008 Kislev 5, 5769 | | Israel Time: 02:41 (EST+7)   Back to Homepage web haaretz.com Haaretz Toolbar Diplomacy Defense Jewish World Opinion National Print Edition Car Rental Books Haaretz Magazine Business Real Estate GA 2008 Travel Week's End Anglo File

Discount fires outsourced computer workers as costs rise By Sharon Shpurer Bank Discount's net profits tumbled 72% against the same period last year, it said Sunday. The bank also said that it is suspending 650 outsourced computer workers after netting just NIS 110 million, compared to NIS 392 million in the third quarter of 2007. Discount said that earnings from financing activities fell 13% to NIS 1.06 billion, and operational revenues fell slightly as well. Advertisement The paring down of its outsourced workforce will be a part of an overall efficiency plan, which will also include merging of the marketing and strategic planning department and the Customer Assets department into other existing departments, and the number of managers will be decreased accordingly. Discount's vice president of marketing, Eli Hoter, announced that he will be stepping down from his position at the bank. Discount also announced that it plans to merge its investment consultancy activities and long term consultancy (retirement consultancy) activities. Discount reported that its operational expenditures had increased by 2.5%, to NIS 1.29 billion, bringing profits from normal activities to about NIS 200 million, compared to NIS 467 million in the same period last year. Discount stock has suffered the sharpest drop in the industry, falling 65% compared to an average of 55% for the other banks. Bookmark to del.icio.us   Boycotting Wagner The composer's works will remain a sensitive topic in Israel for many years. Bound for Gaza The Libyan ship is the most notable attempt yet to break the Gaza blockade.

Read & React Amos Harel: After Mumbai, the war against terror has changed Responses: 52 EU document on Israel, Mideast: Re-open Orient House Responses: 235 Anshel Pfeffer: Israel, stop offending India over Mumbai Responses: 62 Pope praises Nazi-era pontiff accused of Shoah inaction Responses: 57 Israeli Opera to uphold Wagner ban over Nazi link Responses: 47 More Headlines 00:32 Six bodies of Mumbai Chabad victims arrive in Israel 00:15 Olmert: I'm convinced Hillary Clinton will advance Israel-U.S. relations 01:07 Parents of Mumbai terror victim: We may take Rivka's place as Chabad envoys 21:43 Olmert offers condolences to Indian PM over Mumbai deaths 23:09 Hamas tells Haaretz journalist Amira Hass to leave Gaza 21:45 Bush: My biggest regret is false intelligence on Iraq WMDs 01:02 Israel turns back Libyan ship bound for Gaza with aid 00:56 Fetus kept in formaldehyde for 11 years found in Jerusalem 14:06 Israeli Opera to uphold Wagner boycott over link to Nazis 14:36 Indian investigators: Mumbai attackers trained in Pakistan 21:45 Iran dismisses Israeli military threats as 'psychological warfare' 12:14 German firms seek to bypass Berlin sanctions on Iran 14:29 Body of Israeli Omri Kidron found 5 months after he disappeared in China 11:06 Israeli security accidentally intrudes on live Livni interview 02:32 Five Palestinians hurt in clashes with settlers in Hebron 09:46 Eight IDF soldiers among 25 nabbed in drug trafficking bust Previous Editions Select Day 01 dec 30 nov 28 nov 27 nov 26 nov 25 nov 24 nov 23 nov 21 nov 20 nov 19 nov 18 nov

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