Volkswagen boss warns carmaker's situation 'more than critical'

Volkswagen's CEO warned Sunday the company was in a "more than critical" state ahead of meetings with the car giant's staff where he will defend the company's savings plans.

The carmaker is weighing up huge job cuts. In the coming days, the CEO will meet with employees at Volkswagen’s headquarters in Wolfsburg and sites in Zwickau and Emden to give updates on the company’s plans.