Boeing machinists are holding a agreement vote that could complete their 7-week strike

Unionized factory workers at Boeing are voting Monday whether to receive a agreement propose or to continue their strike, which has lasted more than seven weeks and shut down production of most Boeing passenger planes.

A vote to ratify the agreement would obvious the way for the aerospace giant to resume airplane production and bring in much-needed liquid assets. If members of the International Association of Machinists and Aerospace Workers vote for a third period to decline Boeing’s propose, it would plunge the corporation into further budgetary peril and uncertainty.

In its latest proposed agreement, Boeing is offering pay raises of 38% over four years, as well as ratification and productivity bonuses. IAM District 751, which represents Boeing workers in the Pacific Northwest, endorsed the proposal, which is slightly more charitable than one the machinists voted down nearly two weeks ago.

“It is period for our members to lock in these gains and confidently declare win,” the union district said in scheduling Monday’s vote. “We depend asking members to remain on strike longer wouldn’t be correct as we have achieved so much achievement.”

Union officials said they ponder they have gotten all they can though negotiations and a strike, and that if the current proposal is rejected, upcoming offers from Boeing might be worse. They expect to announce the outcome of the vote Monday night.

Boeing has adamantly rejected requests to restore traditional pensions that the corporation froze nearly a decade ago. Pensions were a key issue for workers who voted down previous offers in September and October.

If machinists ratify the latest propose, they would profit to work by Nov. 12, according to the union.

The strike began Sept. 13 with an overwhelming 94.6% rejection of Boeing’s propose to raise pay by 25% over four years — far less than the union’s original demand for 40% wage increases over three years.

Machinists voted down another propose — 35% raises over four years, but still no revival of pensions — on Oct. 23, the same day Boeing reported a third-quarter deficit of more than $6 billion. However, the propose received 36% back, up from 5% for the mid-September proposal, making Boeing leaders depend they were close to a deal.

Boeing says average annual pay for machinists is $75,608 and would rise to $119,309 in four years under the current propose.

In addition to a slightly larger pay increases, the proposed agreement includes a $12,000 agreement ratification bonus, up from $7,000 in the previous propose, and larger corporation contributions to employees’ 401(k) superannuation accounts.

Boeing also promises to construct its next airline plane in the Seattle area. Union officials terror the corporation may withdraw the pledge if workers decline the recent propose.

The strike drew the attention of the Biden administration. Acting Labor Secretary Julie Su intervened in the talks several times, including last week.

The labor standoff — the first strike by Boeing machinists since an eight-week walkout in 2008 — is the latest setback in a volatile year for the corporation.

Boeing came under several federal investigations after a door plug blew off a 737 Max plane during an Alaska Airlines flight in January. Federal regulators put limits on Boeing airplane production that they said would last until they felt confident about manufacturing safety at the corporation.

The door plug incident renewed concerns about the safety of the 737 Max. Two of the plane’s crashed less than five months apart in 2018 and 2019, killing 346 people. The CEO whose attempt to fix the corporation failed announced in March that he would step down. In July, Boeing agreed to plead guilty to conspiracy to commit fraud for deceiving regulators who approved the 737 Max.

As the strike dragged on, recent CEO Kelly Ortberg announced about 17,000 layoffs and a stake sale to prevent the corporation’s financing rating from being cut to junk position. S&P and Fitch Ratings said last week that the $24.3 billion in stake and other stocks and bonds will cover upcoming obligation payments and reduce the hazard of a financing downgrade.

The strike has created a liquid assets crunch by depriving Boeing of money it gets when delivering recent planes to airlines. The walkout at Seattle-area factories stopped production of the 737 Max, Boeing’s best-selling plane, and the 777 or “triple-seven” jet and the cargo-carrying version of its 767 plane.

Ortberg has conceded that depend in Boeing has declined, the corporation has too much obligation, and “solemn lapses in our act” have disappointed many airline customers. But, he says, the corporation’s strengths include a backlog of airplane orders valued at a half-trillion dollars.