Boeing is offering the approximately 33,000 striking workers at factories in Seattle and Portland a 35 percent wage increase over four years, ending a strike that has been going on for more than a month and is costing the aircraft manufacturer billions. Boeing is also offering a one-time bonus payment of $7,000 and other improvements to working conditions.

The IAM union will present the improved wage offer to Boeing workers for a vote next Wednesday. The improved offer was partly achieved with the help of U.S. Deputy Secretary of Labor Julie Su, who is mediating between the two parties.

The strike began on Friday, September 13, after workers rejected a collective bargaining offer from Boeing. The strike has halted aircraft production at factories in Seattle and Portland, where the 737 MAX, 767 and 777 aircraft are made.

Last weekend, it was announced that Boeing would cut 17,000 jobs to cut costs. That is about 10 percent of its workforce. Boeing also warned of a larger-than-expected loss in the third quarter due to the costs of the strike to the company.

Deputy Minister Su held talks with the IAM union last week, as well as with Boeing CEO Kelly Ortberg. According to the union, the new proposal is "worth considering" for the striking workers, but there is no certainty that the offer will be approved. Boeing says it is looking forward to the vote on Wednesday, the day the company will also publish its third-quarter results.

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* Origin: AVIATION ECHO HQ (2:292/854)