Pump.fun axes staff before PUMP token vesting, reports say

Pump.fun reportedly laid off 40+ staff just before PUMP token grants vested, with some losing allocations worth millions. The layoffs' timing has raised concerns about the project's future.

Pump.fun, a Solana-based meme coin launchpad, reportedly laid off over 40 employees shortly before their PUMP token grants were scheduled to vest, according to multiple reports and a Sandmark investigation. Documents and recordings suggest at least one former employee lost a token allocation now valued at seven figures. The layoffs took place in late March and early April, following a period of rapid company growth. In a recorded meeting, co-founder Noah Tweedale cited overexpansion as the reason for the workforce reduction. Employees whose contracts ended in early April received severance based on tenure, but many were dismissed just weeks or even a day before the first tranche of their PUMP token allocations was set to vest under agreements signed in June 2025. Additional claims mention a second round of layoffs in mid-July. Some former employees alleged there were never plans for a PUMP airdrop, stating the company did not support "giving free money" to users. The timing and scale of the layoffs have raised concerns about the project's stability and future.