Microsoft to lay off 7,800

Microsoft Corp. is set to lay off roughly 7,800 employees, mostly within its smartphone business.

Microsoft (Nasdaq: MSFT) had 118,600 employees as of March 30, with about 60,000 of those workers in the United States. The cuts represents about 7 percent of its staff, according to CNNMoney.

This is the second major round of layoffs for the company. After purchasing Nokia last year, Microsoft let go of 18,000 people.

CNNMoney reports the cuts will hit Finland the hardest, where many Nokia employees work. Pekka Pekkala, the communications head for the country's prime minister, said on Twitter 66 percent of Microsoft's Finland staff will be dismissed.

"Finland loses 2,300 jobs...pretty much killing the city of Salo," Pekkala tweeted.

Read more from CNNMoney.