We report direct observations of the structural and electronic dynamics of the photoinduced insulator-metal transition in VO(2), by means of time-resolved photoemission spectroscopy. These observations provide new insights into the processes involved in this transition. Slightly above the threshold of the photoinduced phase transition, the different response times of the electrons and the lattice reveal the electronic nature of the band gap collapse. At high excitation densities, we find that the phase transition is induced nonthermally in an ultrashort time scale. Moreover, we identify different V 3p dynamics indicating the existence of different structural pathways. These results represent a clear demonstration of the potential of time-resolved core level photoelectron spectroscopy to study ultrafast dynamics in condensed matter.