Trade Republic lays off employees

The neobroker does not give a specific figure. However, new employees are to be hired at the same time.

Trade Republic apparently wants to lay off some of its employees. However, it is still unclear how many of the official 700 employees will have to go, as Finance Forward reports. The neobroker recently announced a financing round of 250 million euros.

"We are operating in a changing market environment and continue to develop our strategy to fulfill our mission," an internal email from the start-up to its employees in Finance Forward quoted. For this reason, Trade Republic is now adapting its organization. In concrete terms, this means that employees will be made redundant. A spokesperson for the company is said to have confirmed the redundancies. At the same time, Trade Republic is also planning to hire new employees.

Christian Hecker, Thomas Pischke and Marco Cancellieri founded Neobroker in Berlin in 2015. The start-up offers an app that allows users to invest in shares, ETFs and cryptocurrencies and create savings plans. In addition to Germany, Trade Republic now also operates in Austria, France, Spain, Italy and the Netherlands and claims to have over one million customers.