Israel Discount Bank (TASE: DSCT) will complete its move to its new campus at Rishon Lezion’s Eleph center near Moshe Dayan Station in the coming few months. The new campus, which costs more than NIS 1 billion and is spread over 21 dunams (5.25 acres), will for the first time unite all the companies in the Discount Group including the bank itself, Mercantile Discount Bank, Israel Credit Cards (CAL), in which it has a 72% stake and which a regulatory decision is to be made in the coming weeks on whether it can retain control in the company.
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Sources close to the matter have told “Globes” that in the new location, Discount is promoting a new managerial concept with an open space design with entire divisions sitting together without separation walls between the various managerial levels including the manager of the division through to the most junior employee. Discount has called this new seating method ‘neighborhoods’ with every neighborhood comprising a division, department or wing. So for example the human resources division will sit in one neighborhood while on the floor above it will be the risk managements division.
The idea behind the new office seating method is to allow the 4,500 employees moving to the campus to get to know their divisional management and to be a part of it, while also allowing transparency on what is happening inside the bank. In addition to the open spaces, meeting rooms will be available at Discount’s new offices for meetings when necessary.
This modus operandi is typical of tech companies, and Discount is striving to adapt it to the needs of the bank. The decision to act in this way was made after many discussions made with the participation of the employees, managers and the workers committees.
The campus will also include restaurants, leisure activity amenities, an outdoor amphitheater, an indoor auditorium and other facilities.
Meanwhile Discount Bank has sold its current headquarters in Tel Aviv’s Herzl Street through a tender for NIS 685 million to Israel Canada, Almogim, Yossi Avrahami and Reality Fund. G-City (TASE: GZT) hasa won a tender to buy CAL’s headquarters for NIS 336 million and Mercantile Discount has begun a sales procedure for its offices on the top floors of the Yuval Tower in Tel Aviv’s Sarona neighborhood.
Published by Globes, Israel business news – en.globes.co.il – on December 19, 2022.
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