Continued problems at BlackBerry maker Research in Motion Ltd. could soon lead to layoffs. This news comes from The Wall Street Journal, which states RIM’s problems are only growing deeper.

RIM, once the leader in smartphone innovation, continues to feel pressure from both Apple and Google. It recently announced lower revenues and for the first time since 2005 erosion in BlackBerry sales.

According to TIM co-chief executive Mike Lazaridis:

“We truly believe we are approaching the end of this difficult transition.”

Still, the company expects its bad news to continue through the current quarter, which ends in August.

In the interim, RIM plans to ““streamline operations” by reducing headcount and reallocating resources to high-growth projects.”

RIM is placing bets it can recover with the introduction of a new operating system called QNX, which runs on its PlayBook tablet. Unfortunately, the first smartphone to include the OS isn’t expected until 2012.

In the meantime, “interim phones that run on an upgraded version of the old BlackBerry operation system” are expected in late August.

What do you think? Are RIM’s moves going to help or hurt it as it tries to compete with Apple and Google? Let us know by commenting below.