UPDATED: Jan. 22 @ 14:18 – A decline in advertising revenue and a tight credit market are presumed to be leading factors in layoffs at Astral Radio on Monday (Jan. 19). The cuts number 23 and include high-profile veteran Standard Radio executives Rob Braide, Ross Davies, Jean-Marie Heimerath Eric Stafford and Brian DePoe.

The terminations come only weeks after Astral Media reported strong Q1 gains but the revenue and profit increases were largely attributable to the inclusion of the Standard Radio chain, masking an overall reduction in ROI dollars.

“In order to maintain and enhance the competitive position of its 82 radio stations across Canada, following the integration of the Standard Radio assets, Astral Media Radio has reorganized some of its English-language operations and let go 23 employees,” the company said in a prepared statement yesterday.

From the  same statement : “Astral Media stated that it wishes to sincerely thank these employees for their contribution and wishes them the best of luck for the future. The company is confident that this reorganization will allow the Radio Group to continue to enhance its competitive position, and to remain the most important radio reference in Canada.”

Astral Media completed the $1.3b  buyout of the  Standard Radio chain of 52 stations in 29 markets in Oct. of last year.

Confirmed cuts  (with some info from  Broadcast Dialogue)

Rob Braide, VP Branding Communications and Industry Relations (and former VP/GM at CJAD/CJFM/CHOM-FM Montreal) – retained as a consultant for an unspecified time;

Jean-Marie Heimrath, VP/GM of Astral’s Toronto-based English-language radio syndication arm, Orbyt Media (formerly Sound Source) – retained as a consultant for an unspecified time;

Eric Stafford, VP/GM of The Bear Ottawa; EZ Rock Toronto; PD Brian DePoe;

Ross Davies, VP of English Programming – retained as a consultant for an unspecified time

Dave Simon – VP of Engineering

Jane Brown -  CFRB Toronto Morning Anchor

David Bent -  CFRB afternoon Anchor

Bill MacDonald – CFRB evening Anchor

John Elston -  CFRB overnight Anchor

Richard Syratt – late night CFRB talk show Host

and, Lee Sterry -  GM at Astral Radio Penticton