And Giggs believes that in order for United to be where they used to be - at the pinnacle of English football - they need to sign a few more players yet.
"They need another four or five players," he said.
"He (Solskjaer) has bought in three players but he probably needs seven or eight (altogether).
"But you can't do that over one transfer window, so you have to be patient because it will be slow.
Man Utd legend Ryan Giggs tells Ole Gunnar Solskjaer how many players he needs to compete (Image: GETTY)
"The culture has changed and what he is trying to do was much needed. He needs time."
United take on Newcastle later today at St James’ Park, with Magpies boss Steve Bruce also under pressure.
Both Bruce and Solskjaer were team-mates of Giggs at United.
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"I knew Brucey as a player and he was a leader," Giggs added.
"I've also spoken to players who have played for him and they have enjoyed it. It's a tough club, Newcastle.
"When you don't win regularly at big clubs you are going to get criticised. But Brucey and Ole are big enough characters to turn it around, with time and a bit of luck. Every manager needs that."