A tentative agreement to end the Boeing strike has been announced

The contract must still be approved by a majority of rank-and-file union members before staff can return to work. The union announced the vote for Wednesday.

After long negotiations, it was agreed that wages would increase by 35% within four years.

About 33 thousand unionized Boeing workers on the US West Coast, mainly in Washington state, have been on strike since September 13. The work stoppage halted production of the best-selling 737 MAX plane and the wide-body 767 and 777 models, putting additional pressure on the company's already poor financial situation.

The strike was a huge blow to the company, which is experiencing serious problems but is still a key element US economy. The company is losing about $1 billion a month because of the strike, on top of ongoing losses, according to Standard & Poor's estimates.

Boeing is the largest exporter in the US and its annual contribution to the economy is estimated at $79 billion. Boeing's orders provide employment for approximately 1.6 million people employed by approximately 10,000 companies. suppliers.

The company also announced plans to lay off 10 percent. its global staff, i.e. approximately 17,000 people out of its 171,000 employees.

The strike came just a month after new CEO Kelly Ortberg took office and said he wanted to “reset” the difficult relationship between the union and the company.

Boeing said Saturday it “looks forward to our employees voting on the negotiated proposal.” There is still no guarantee that this version of the settlement will be accepted. Reuters reminds that employees overwhelmingly rejected the initial proposal.

On October 8, Boeing withdrew its extended offer, which included 30 percent. wage increases over four years after talks, which also included federal mediators, ended in failure. The union demanded 40 percent. growth and restoration defined pensionswhich was not offered in the new contract proposal.