- Trump Media has laid off about half a dozen employees, sources told Bloomberg.
- Employees fired included Trump Media’s chief technology officer, according to the report.
- This comes as Trump Media awaits SEC approval for its merger with Digital World SPAC.
The parent company of former President Donald Trump’s social media platform, Truth Social, has laid off some employees as it waits for U.S. regulators to approve the merger. bloomberg Reported, citing sources.
About six staffers at the Trump Media & Technology Group have been laid off, two people familiar with the matter, who requested anonymity, told Bloomberg. The layoffs included senior employees such as chief technology officer William “BJ” Lawson, the official said.
Lawson became a Trump Media executive in March 2022 and received a base salary of $300,000 a year, according to the Securities and Exchange Commission (SEC). filing last year.
Sources told Bloomberg that Trump Media expects to be able to raise money at current spending levels through September.
Trump Media and Lawson did not immediately respond to an insider’s request for comment outside normal US business hours. The company and Lawson also did not respond to Bloomberg.
The reported layoffs come at a time when Trump Media is merging with Digital World (SPAC), a special purpose acquisition company. Founded in 2021, Trump Media is waiting for the SEC to approve a merger transaction.
February letter Trump Media’s general counsel has called for an SEC investigation into the merger review, according to a report. just the news,Company’s websiteThe letter said the “open-ended” investigation was an “unprecedented attempt to kill a transaction without discovering any wrongdoing.”
Trump media said on it website We wanted to level the playing field in the media and technology industry by creating a platform where people could share content without fear of reputational damage.
Truth Social launched last February after Trump banned Twitter and Facebook following the U.S. Capitol uprising.