Boeing machinists vote on union-backed contract proposal with a warning.

• On Sept. 13, over 32,000 Boeing machinists who are part of a union went on strike.
• The company's fourth offer will be presented to employees for a new labor deal on Monday, marking their third vote since September.
• The strike has halted most of Boeing's production, resulting in more than $20 billion in earnings for the company.

Over 32,000 striking machinists will vote on a contract proposal for the third time on Monday.

If a simple majority approve the offer, the work stoppage that has halted most of the struggling company's airplane production for more than seven weeks will end, adding another curveball to what executives had once cast as Boeing's turnaround year.

The revised proposal offers 38% raises over four years, surpassing the 35% increase Boeing initially proposed and workers rejected, thereby ending the strike. The original deal in September included 25% raises, while the union had initially sought pay increases of approximately 40%.

Boeing's aircraft are primarily produced in the Seattle area, where workers have expressed dissatisfaction with the rapidly increasing cost of living.

The union cautioned that the deal presented last Wednesday might be the best workers can expect.

"The International Association of Machinists and Aerospace Workers District 751 stated that in every negotiation and strike, there comes a point where they have extracted everything they can through bargaining and by withholding their labor. They are currently at that point and risk receiving a regressive or lesser offer in the future."

In August, Boeing CEO Kelly Ortberg encouraged employees to return to work.

"He acknowledged in a staff note on Friday that the strike has affected not only him but also our customers, suppliers, communities, and employees at Boeing. He urged us to unite and prioritize rebuilding the business and producing the best airplanes in the world, as many people rely on us."

Boeing has raised more than $20 billion to shore up its finances.