The culture fostered by the managers of those times (later displaced and kicked out steadily after the Compaq merger and the disastrous EDS acquisition) was what kept people around while the CEOs were busy burning the company down. That culture is still intact in some small pockets.
Top management since the times of Carly, Mark (a one trick person who couldn’t do anything other than cut costs by selling and cutting everything), Leo and then Meg were mostly clueless on running such a large company that had the capability to create integrated solutions — HP had PCs, laptops, printers, printing solutions, PDAs, phones (briefly), tablets (briefly), software, services, security tools, networking devices, storage devices, servers with PA-RISC/Itanium running HP-UX to servers with x86 running Windows/Linux)...I’m sure I’m missing many more product areas of HP since Carly’s time and later.
I still dream that HP could do better as one company with many products in different areas. But management styles that worship Wall Street and look only at their bonuses can’t handle that.