Swiss luxury group Richemont plans to cut 300 jobs in Switzerland, Swiss newspaper 24 heures reported on Friday without citing sources.

Around 170 job could be cut at its Cartier business and almost 120 at its Piaget and Vacheron Constantin businesses, the paper said. Richemont was not immediately available for comment on the story.

Last month, Richemont confirmed a report that it could cut up to 350 Swiss jobs.