Swiss specialty ingredients firm Evolva plans to reduce its workforce by 43% as part of an overall effort to revamp its operational structure to counter on-going losses, the company announced in a press release Wednesday.

The company, which collaborates with American agribusiness Cargill on stevia sweeteners, is expected to reduce the number of its full-time employees from 178 to 100. Staff cuts will reduce the firm’s expenses by CHF 11 million, or about $11.5 million USD, according to Evolva.

“Evolva is undertaking the next logical step in its own evolution. Both our leadership and operations will be significantly optimized to ensure that our products achieve their full potential and our innovation engine remains strong,” said Simon Waddington, Evolva’s chief executive officer, in a statement. “The choices we make today will strengthen our ability to deliver commercial success.”

A press release issued by Evolva on Wednesday said the company will also work to on a major site consolidation effort over the next few months, including consolidating research and development functions at its headquarters in Switzerland. Members of the firm’s management team are also slated to depart.

Cargill entered into an agreement with Evolva this year to bring the Swiss firm’s EverSweet stevia sweetener product to market.

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