Boeing strikers vote on 35% pay rise offer.

Boeing has offered striking mechanics a 35% pay rise over four years as part of a new contract proposal it hopes will end the month-long strike.

About 33,000 unionized workers, mostly in Seattle, will vote Wednesday on whether to accept the airline giant’s offer. They have been on strike since September 14, halting production of the company’s 737 MAX and 767 and 777 aircraft.

The company’s profits have fallen so much that it said this week it was seeking $35 billion in additional funding. The company also announced that it will have to lay off 17,000 workers in November – around 10% of its workforce. “The future of this contract is in your hands,” the union told workers on Saturday.

Union members had previously rejected the offer, which included a 30% pay rise, saying it was not enough to cover the increase in living costs.

The union wanted a 40% wage increase and the return of a defined benefit pension which guarantees an income at retirement age.

Although the latest offer is closer to the desired salary increase than the previous offer, it does not include a defined benefit pension that would guarantee certain monthly benefits after retirement.

It includes a $7,000 bonus if they accept the offer, a renewed incentive plan and more contributions to employee pension plans, including a one-time $5,000 contribution and up to 12 employer contributions %, said the International Association of Machinists and Aerospace Workers.

Acting US Labor Secretary Julie Sue met with union representatives and Boeing management in Seattle this week to push for a solution. The company plays an important role in the US economy.

It has also been under scrutiny since an incident in January, when a malfunction caused a dashboard explosion on Alaska Airlines’ new Boeing 737-MAX shortly after takeoff.

The Federal Aviation Administration has banned the aircraft from increasing production, and on Friday the agency opened a new safety investigation of Boeing.

In July, Boeing agreed to plead guilty to criminal fraud charges and pay at least $243.6 million after violating a 2021 deferred prosecution agreement related to two 737-MAX aircraft who died in almost identical accidents more than five years ago that claimed 346 lives.