ZURICH (Reuters) - JPMorgan Chase & Co (N:JPM) could eliminate up to 140 jobs in Switzerland in an effort to cut costs, a person familiar with the matter told Reuters on Monday, confirming a report by the Swiss financial news website Finews.
Finews said the cuts would mainly affect the Geneva offices, but some positions in Zurich could also be affected.
A spokesman for the bank declined to comment on job cuts.
"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," he said in an emailed statement.
Over the past year, JPMorgan has shifted a number of jobs to cheaper locations in order to cut costs.
