Dozens of employees at Pump.fun (PUMP) were fired several months before the vesting of their PUMP tokens began. As a result, they won't receive them.

Pump.fun reduced part of its team just two months before employees were set to start receiving PUMP tokens under grant agreements. One of those laid off lost an allocation worth a seven-figure sum at current prices, even though the token is now 79% below its 2025 peak.

The first wave of layoffs occurred in early April—according to co-founder Noah Tweedale, due to the company’s excessively rapid growth. The laid-off employees received one week’s salary for each month worked, but many were precisely about to start receiving tokens in two months’ time.

Former employees report a second wave of layoffs in July—by their estimates, more than 40 people have left the company altogether.