Source: Oracle is gutting the group that tailors its products for particular industries

Oracle is cutting about 40% of the team in its industry solutions group, an employee tells Business Insider. That amounts to between 50 and 60 people.

The specialists in the industry solutions business that are being cut are responsible for tailoring the company's approach to speciality markets like retail, hospitality, health sciences, or education verticals.

Both of Oracle's CEOs - Safra Catz and Mark Hurd - have said that the company releases too many products, and it's likely trying chop away at areas it doesn't think it needs.

For Oracle, a company with more than 120,000 employees, ~60 people is a pretty small number. Our source also tells us that the people who have been laid off have been invited to apply for other positions.

Nonetheless, the cuts suggest Oracle is de-emphasizing industry verticals, or at the very least changing its approach there.

Oracle declined to comment on this report.