[Pump.fun Layoffs Before Token Unlock, Some Former Employees Miss Out on $1 Million Token Allocation] According to Sandmark, Pump.fun has been accused of conducting two rounds of layoffs before the token unlock, resulting in at least one former employee losing a PUMP token allocation worth $1 million at current prices. Co-founder Noah Tweedale stated in an internal meeting that the layoffs were due to the company expanding too quickly. Former employees reported that the company conducted a second round of layoffs in mid-July, with over 40 employees laid off in total over the past two months. Pump.fun operates in the UK under the name Baton Corporation Ltd and is currently on the UK Financial Conduct Authority's warning list. Additionally, its latest annual report is overdue for submission.