Boeing raised its offer to striking factory workers on Monday, seeking to end the strike that has all but halted production for more than a week.
The proposal, which the company called its “best and final” offer to the International Association of Machinists and Aerospace Workers (IAM), would raise workers' wages, reinstate annual bonuses and increase retirement benefits.
“This proposal recognizes the contributions our employees make to our company's success and future,” Mike Fitzsimmons, Boeing's vice president of labor relations, wrote in a letter to union leaders.
“We urge you to bring this proposal to your membership and vote on it as soon as possible so that we can end the current strike, get our employees back to work and refocus on the future and the company's recovery,” he added.
The proposal offers a 30 percent wage increase over four years, up from the 25 percent Boeing previously offered. Workers would receive a 12 percent raise immediately, followed by 6 percent raises each year of the contract's three-year life.
It also increases the ratification bonus from $3,000 to $6,000 and increases the company's 401(k) contribution to the first 8% that employees put toward retirement savings from 75% to 100%. The union has until midnight Friday to ratify the deal.
Earlier this month, some 33,000 Boeing workers went on strike after they voted overwhelmingly to reject the company's previous proposal.
The strike is yet another burden for the aerospace giant, which was already facing intense scrutiny since a door plug on a Boeing plane exploded during an Alaska Airlines flight in January.
