The parent company of Truth Social, former President Donald Trump's social-media platform, has laid off some workers as it waits for US regulators to approve a merger,Around half a dozen staff at Trump Media & Technology Group were laid off, two people familiar with the matter, and who requested 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 The people told Bloomberg it was projected that Trump Media could fund itself through September at current spending levels. Trump Media and Lawson didn't immediately respond to Insider's request for comment made outside of normal US operating hours. The company and Lawson also didn't reply to Bloomberg.
The reported layoffs come at a time when Trump Media is set to merge with Digital World, a special purpose acquisition company, or SPAC. Trump Media, founded in 2021, is waiting for the SEC to approve the merger deal.
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