- Trump Media has laid off about half a dozen employees, sources told Bloomberg.
- The laid off workers included the chief technology officer of Trump Media, according to the report.
- It comes as Trump Media awaits SEC approval for its merger with Digital World SPAC.
The parent company of Truth Social, former President Donald Trump’s social media platform, has laid off workers while it waits for US regulators to approve a merger, Bloomberg reported, citing sources.
Half a dozen Trump Media & Technology Group employees have been fired, two people familiar with the matter, who asked to remain anonymous, told Bloomberg. The layoffs included senior employees, such as chief technology officer William “BJ” Lawson, the people said.
Lawson became an executive at Trump Media in March 2022 and received an annual base salary of $300,000, according to a Securities and Exchange Commission (SEC) deposit Last year.
People told Bloomberg that Trump Media is expected to fund itself through September at current spending levels.
Trump Media and Lawson did not immediately respond to Insider’s request for comment made outside of regular U.S. business hours. The company and Lawson also did not respond to Bloomberg.
The reported layoffs come at a time when Trump Media is set to merge with special purpose acquisition company Digital World, or SPAC. Trump Media, founded in 2021, is waiting for the SEC to approve the merger deal.
a february letter sent to Congress by Trump Media’s general counsel seeking an investigation into the SEC’s merger review, according to a report by just the newsrelated to society website. The letter said the “endless” review was “an unprecedented attempt to kill the deal without any findings of wrongdoing.”
Trump Media said on his website that he wanted to level the playing field in the media and tech industry by creating platforms where people can share content without fear of ruining their reputation.
Social truth was launched in February last year after Trump was banned from Twitter and Facebook, following the US Capitol uprising.