Showdown at Volkswagen: Talks Teeter on Brink

Volkswagen and labor representatives have made progress in talks over German plant closures and pay cuts after 50 hours of negotiations. While strides have been made on wage issues, plant closures remain a sticking point. Talks continue amid Germany's economic uncertainty and industry-wide turmoil.

Volkswagen and its labor union, IG Metall, have spent over 50 hours in negotiations regarding plant closures and wage cuts, according to a statement from the union on Thursday. While progress has been made, particularly on wage agreements, the conversation around plant closures continues to be a point of contention.

Negotiations, which began on Monday and have stretched late into the night, aim to circumvent massive strikes that the union warns could start as early as next year. Already, nearly 100,000 workers have launched strikes, the largest in Volkswagen's history, opposing management's plans for wage reductions and potential plant closures.

The discussions occur amidst political upheaval in Germany, with sluggish growth becoming a focal issue ahead of the upcoming snap elections. Although there is some headway, the fate of the Osnabrueck and Dresden plants hangs in the balance as both parties endeavor to find common ground. Volkswagen has withheld from commenting on the negotiations.

(With inputs from agencies.)