Veteran Music Row executive James Stroud has had to drastically trim the operations of his R&J Records venture as it approaches its first birthday. The layoffs come a few months after Stroud was taken to court by SunTrust over more than $400,000 he owes from the former Stroudavarious Records.

Veteran Music Row executive James Stroud has extricated himself and the acts he was working with from Stroudavarious Records, the three-year-old joint venture with Alabama businessman Ronnie Gilley. Stroud and his executive team are now running R&J Records, which is also being backed by Gulfport entrepreneur Rick Carter. Gilley, meanwhile, is awaiting sentencing after pleading guilty last month to offering money to Alabama lawmakers in return for their support of a gambling bill.