Talks Between Volkswagen and Labour Unions

HANOVER, Germany (Reuters) – Talks between Volkswagen (ETR:VOWG_p) and labor unions over plant closures and pay cuts are expected to last well into Thursday as both sides have still not reached a deal, according to two people familiar with the matter.

Negotiations have been ongoing since Monday in hopes of reaching an agreement before Christmas to avert massive strikes that the IG Metall union has warned could begin as soon as next year.

According to sources, there is still a possibility that talks could fall apart.

Volkswagen declined to comment.

IG Metall was not immediately available for comment.