I just sized an ocean racer for my SO. I took three segments off one side and two the other. Normally I would say no, but for me it depended on how the clasp fit on my wrist. The inner 'bracket' tends to wrap around and protrude out on the inside - wrist side. For my size wrist, I didn't want this bracket part fitting on the side of my wrist but more toward the bottom. If you look at the closed clasp you will see what I mean. For large wrists this shouldn't be a problem, but I was getting close so I made sure the clasp was shifted (by taking more segments out) a little toward the six o'clock lug side. Start cutting on the side that you may want to shift the clasp/bracket to, that way if you end up uneven the clasp will be shifted the right way.
Hope this didn't confuse the heck out of you
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Cut away!