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In an open letter released earlier this month, 30 employees leading the charge said that trust and confidence in management was “at an all time low”. Grievances are believed to be centered around uneven workers’ salaries, triggered by a loophole that meant N26 employees could look up their colleagues’ wages.
Yet N26 seems to have had long-standing employee battles, with Glassdoor approval ratings for its chief executive Valentin Stalf falling off a cliff last year to 47%. N26 also had the lowest Glassdoor score of the four major digital banks — scoring three out of five stars — in an analysis by Sifted in December. A string of resignations, including their Chief People Officer most recently, have also caused concerns according to one employee Sifted heard from. N26 has raised close to $800m to date and is backed by the likes of Peter Thiel and serial fintech-investor Ian Osborne.
