The Boeing engine will choose a new proposal that can stop the attack

Boeing and the machinists union has reached a new contract proposal, the union said on Friday, outlining a deal that could end a more than month-long strike that has hobbled the production of aircraft manufacturers.

The ratification vote is set for Wednesday.

The new proposal includes a 35% wage increase over four years, a signing bonus of more than $7,000, a guaranteed minimum payment in the annual bonus program and more 401(k) contributions among other changes.

Acting US Labor Secretary Julie Su met with both parties earlier this week. “With the help of the US Secretary of Labor Julie Su, we have received a negotiation proposal and a resolution to end the strike, and ensure that it is presented to the members and deserves your consideration,” the International Association of Machinists and Aerospace Workers District. 751 said in a statement on Friday.

The strike began on September 13 after more than 30,000 machinists rejected a tentative agreement that included a 25% wage increase over four years. Boeing later sweetened the offer but the union said it was not negotiated.

“We look forward to our employees voting on the negotiation proposal,” Boeing said in a statement.

Boeing is working to stop the bleeding of cash as it grapples with a safety crisis stemming from a near-catastrophic plug plug plug in one of its 737 Maxes at the beginning of the year and challenges in other programs.

The company earlier this month said it would report deep losses and take a charge of about $5 billion in its commercial and defense units. The contract ratified on Wednesday, when Boeing also reported full results, would be a victory for new CEO Kelly Ortberg, who took the top job at the company in August, tasked with reshaping the company.

On October 11, he announced a 10% job cut in Boeing’s workforce and that the company will stop making the 767 when orders end in 2027.