Despite turning Hewlett-Packard into the world's biggest computer company, president, chairman and CEO Mark Hurd says he's still unhappy with the state of the company.
IDG reports that Hurd, addressing delegates at the Morgan Stanley Technology Conference in San Francisco, says HP still has to reduce its cost structure to be more profitable and grow.
In most peoples' books, Hurd's turnaround of HP has been phenomenal but, he says, it can still do better.
"On an absolute basis, we're not doing well," he says.
Although HP has been on a two-year campaign to cut costs, including employee layoffs, those savings are still not completely reflected in HP's profit and loss statement, he adds.
"I don't think that we've gotten very good traction with the investment base understanding that these are efforts that require time," Hurd says. "It will take us all of the next two years to be able to take advantage of that."
Hurd says that the total available worldwide market for the computers, servers, printers and IT services HP offers is $1.2 trillion, but that HP still doesn't cover that market effectively, pointing out that it needs to add to its sales force and develop more partnerships with other companies to better reach customers.