Monsanto, the world’s largest producer of  genetically-modified (GM) crops and their associated pesticides, including the probable carcinogen Roundup, has announced that it will shed 2600 jobs worldwide in an attempt to save the collapsing company.

In a full portfolio report on Wednesday Monsanto released figures that shook its share price, leading to a 4% fall in morning trading.

Monsanto stated; “…plans also include an expected separation of approximately 2,600 employees over the next 18-24 months. The company is developing further plans to reduce its operating spending by an additional $100 million, which would bring the total annual expected savings to potentially $400 million.”

Monsanto said its loss widened to $1.06 a share for the fourth quarter ended on August 31 from a loss of 31 cents a year earlier.

Sales of corn seeds and traits, Monsanto’s key products, fell to $598 million from $630 million. And sales at the company’s agricultural productivity unit, which includes Roundup herbicide, dropped to $1.1 billion from $1.25 billion in the quarter.

Shares of Monsanto were down 4 percent at $84.00. The stock had fallen roughly 30 percent from a high set last February, and its growth strategy has under intense investor scrutiny after its attempted takeover of Swiss rival Syngenta AG failed.