"The players are disappointed but we cannot change what has happened and we now must move onto the next game, keep going and try to correct the problems," said the Liverpoo boss.
"We must improve and to do that we need to continue to work hard and sign more good players. Every big club always needs to be on the lookout for new players so this is no reaction to last night, it's normal.
"I have a contract here and I want to see us improve this year and in the future. Unfortunately, the prospect of generating extra income from a run in the Champions League is no longer a possibility so we must work with what we've got.
"Rick Parry and the board are working hard to find solutions and I am working closely with our scouting department. We all want to progress and already we have signed Paletta and Gonzalez to help us achieve this.
"In football though, nothing changes after just one game. We are no longer in the Champions League but that does not mean we are a worse team than before.
"I am happy with the players we have here and they are not thinking about their futures, they are thinking only about winning the next game. We are in two competitions and are fully focussed on them. Our players want to finish second in the Premiership, win the FA Cup, and give their best for the club and supporters.
"Playing in four competitions was not easy, there were a lot of games and it was really difficult. The fact we now have just two competitions left may make life a little easier. It's always easier with less games.
"Of course, we need to start scoring goals. The strikers are desperate to score and we must ensure that we continue to create chances for them."