The Boeing Company and the International Association of Machinists and Aerospace Workers union agreed to a new contract to officially end the 7-week strike.

W hile the strike by more than 33,000 Boeing machinists - represented by the International Association of Machinists and Aerospace Workers (IAM) District Lodge 751 and District W2

Unionized factory workers at Boeing are voting on Monday whether to accept a contract offer or to continue their strike. The walkout has lasted more than seven weeks, shut down production of most Boeing passenger planes and cut off a key source of cash for the company.

The union representing tens of thousands of striking Boeing machinists has endorsed the U.S. aerospace company's latest contract proposal.

SEATTLE (AP) — Unionized machinists at Boeing voted Monday to accept a contract offer and end their strike after more than seven weeks, clearing the way for the aerospace giant to resume production of its bestselling airliner and generate much-needed cash.

Boeing machinists have voted to end their 7-week strike, accepting the latest contract offer from the company. Striking members from the International Association of Machinists and Aerospace Workers accepted the proposed contract by 59%.

Approval of the deal with 38 percent raises over four years is a key step toward recovery after Boeing suffered billions in losses from the work stoppages and safety problems.

Boeing machinists have ended their weeks-long strike, amid signs that the work stoppage had begun denting U.S. jobs numbers — and just a day before the country votes for its next president. After rejecting a previous contract offer,

The contract promises a 38% pay increase over four years and an increased 401(k) match. The striking workers rejected two previous contract offers.