Statement on N26 headcount reductions
N26 today announced a 4% reduction in headcount as a result of sharpening its focus on its strategic priorities
Berlin, 27. April 2023 – Against the backdrop of significant and long-lasting changes to the global business landscape in the last year, N26 continues to sharpen its focus on its most important strategic priorities. The company is constantly reviewing the best setup and size of its teams in line with these priorities. As such, leaders at N26 have recently reassessed each functions’ individual staffing needs to adjust and adapt team structures in certain areas. N26 is confident that sharpening its focus in this way will enable the company to fully capture the strategic opportunities ahead of it. Sadly this means that N26 will be saying farewell to a number of talented employees who have helped bring the company to where it is today, as it will reduce its headcount by 71, or about 4 %.
This decision is in no way a reflection of the outstanding work that each of N26’s employees do on a daily basis. Right now, the company’s priority is to do as much as it can for the individuals whose roles have been impacted. They are being offered comprehensive severance packages that take their tenure and contributions to N26 into account, and will have access to a range of support resources.
N26 AG is Europe’s leading digital bank with a full German banking licence. Built on the latest technology, N26’s mobile banking experience makes managing money easier, more secure and customer friendly. To date, it has welcomed more than 8 million customers in 24 markets, and processes over 100bn EUR in transactions a year. N26 is headquartered in Berlin with offices in multiple cities across Europe, including Vienna and Barcelona, and a 1,500-strong team of more than 80 nationalities. Founded by Valentin Stalf and Maximilian Tayenthal in 2013, N26 has raised close to US$ 1.8 billion from some of the world’s most renowned investors.
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