Translation:You do not need it, and neither do we.
"en" is a special pronoun that replaced "de + noun" where the noun is something previously mentioned (i.e. the "it" in the English sentence).
This sentence has been here for five years and it still has not been answered. I have learned through Duo that "en" means "some" or "some of them" and le / la / l' means it. Can someone please explain to me where the "it" part of this sentence comes from. Thanks in advance.