In order to preserve a diminishing £700,000 cash pile the board of software integration firm Myratech is taking 'radical' action. Yvonne Carus, Lawrie Elwell and James Walker have all chosen to relinquish their executive responsibilities, not to mention a percentage of their salaries, while commercial director Clive Gray and financial director Martin Hyman have resigned. Only two directors remain, namely chairman Nick Hamilton and managing director Mark Abrams (the latter is also taking a pay cut). It is hoped that an additional non-exec will be appointed in the near future. But the changes do not end there. Roughly a third of the company's employees will be made redundant, reducing the workforce to 30. Because of the downsizing Myratech will move back to its original premises in Birmingham, sub-letting its current head office. The news came in contrast to a relatively upbeat interim statement in September. Back then Abrams claimed that he foresaw 'no need to return to the market for working capital purposes'. He went on to flag up the strength of the company's relationship with accounting software giant Sage.