Yes, and more cleanly than most people expect, because there are no links to count. The jeweller cuts the strip square across at the required point, finishes the cut edge, and fits it back into the end cap that carries the clasp.
The cut has to fall at the end of a row so that the chevron pattern finishes evenly, and the end cap has to match the width of the strip exactly, which usually means reusing the original cap rather than fitting a new one.
The same operation is used to remove a badly creased section from the middle of a chain, though there the two cut ends have to be rejoined, and the join is visible as a fine line across the surface at close range.