Donald Trump's media company lays off some employees while waiting for regulators to approve SPAC merger, report says

• Trump Media has laid off about half a dozen employees, sources told Bloomberg.
• The laid-off workers included Trump Media's chief technology officer, per the report.

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, Bloomberg reported, citing sources.

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 (SEC) filing last year.

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.

A February letter sent to Congress by Trump Media's general counsel requested an investigation into the SEC's review of the merger, according to a report by Just The News, linked to on the company's website. The letter said the "endless" review was "an unprecedented attempt to kill the deal without any finding of wrongdoing."

Trump Media said on its website that it wanted to even the playing field in the media and tech industry by creating platforms where people can share content without fear of reputational ruin.

Truth Social was launched in February last year after Trump was banned from Twitter and Facebook, following the US Capitol insurrection.