It’s been a rollercoaster ride for BlackBerry Limited ever since CEO John Chen took over the leadership reins, and after all the optimism earlier this year, things are now looking a bit glum with reports saying the company is set to lay-off staff in an effort to remain profitable.

As The Wall Street Journal reported, the lay-offs were announced shortly after BlackBerry said it was considering closing down its Sweden office. Nevertheless its not clear if it means BlackBerry will axe any of its Swedish staff.

BlackBerry did actually achieve a small profit in Q4 of its fiscal 2015 ending in February, but this slight upturn in fortunes wasn’t enough to prevent an overall year of losses.

CEO Chen has previously stated he wants to achieve sustainable profitability by the end of this fiscal, and that’s what’s prompted the new round of lay-offs, though he didn’t say how many jobs would be affected.

“Our intention is to reallocate resources in ways that will best enable us to capitalise on growth opportunities while driving toward sustainable profitability across all facets of our business,” the company said in a statement. “As a result, we have made the decision to consolidate our device, software, hardware and applications business, impacting a number of employees around the world.”

BlackBerry counted some 6,225 full-time staff scattered across the globe last February, which is way down on the 16,000 employees it had in 2012, when the seriousness of the company’s declining fortunes first became evident. In the company’s last full fiscal year, it reported a turnover of $3.34 billion, down 51 percent from the year before. Its total losses were reported to be $304 million, compared to a $5.9 billion loss in fiscal 2014.

In its statement, the company reiterated it remains laser-focused on the enterprise, with big plans for its burgeoning software businesses in enterprise security and the Internet of Things.

“One of our priorities is making our device business profitable,” BlackBerry said. “At the same time, we must grow software and licensing revenues. You will see in the coming months a significant ramping in our customers facing activities in sales and marketing.”