Manager Jurgen Klopp is expected to be busy in the summer transfer window.
The former Borussia Dortmund manager replaced Brendan Rodgers earlier in the campaign, but has since struggled to overcome the same problems his predecessor endured.
His side are still weak defensively, while they have also struggled up front, with Christian Benteke failing to make his mark and Daniel Sturridge still failing to get fit.
He is expected to be busy buying and potentially selling players in the summer transfer window, but Souness says it could take as many as four to turn things around.
“It will take at least three or four transfer windows just to improve things,” he told the Mirror.
“Klopp has got a huge job on his hands, possibly bigger than he first thought when he took over.”
“But the truth is that you don’t get a job like Liverpool, a really top job, is things are going well and at the moment they are a long way off.”
One big issue that Klopp will have to decide over is the long-term future of Daniel Sturridge.
There is no denying that he is the best forward at the club, and a star when he is fit, having shown that when he has been able to play for the side this season.
However, those moments are too rare at present, and the German may be tempted to sell and bring his own man with the funds in the summer, should there be a willing buyer.