According to a report by Swiss financial news site Finews, JPMorgan Chase & Co is considering cutting up to 140 jobs in Switzerland in an effort to trim costs.
According to the report, the cuts would mainly affect its Geneva offices, but some positions in Zurich could also be affected.
JPMorgan’s spokesman declined to comment on the job cuts report.
“Switzerland remains an important growth market for JPMorgan, and we are committed to providing best-in-class advice and counsel to clients across the country,” said JPMorgan in an emailed statement.
In 2019, JPMorgan has shifted a number of jobs to more cost effective locations so as to trim costs.