The Latest Breaking News from Jon Holden

Striking workers at Boeing approved a new contract proposal on Monday, ending a more than seven-week stoppage that had cost the beleaguered aviation giant billions.

The new offer includes an immediate 13% raise, followed by 9% hikes in each of the next two years, and a 7% increase in the fourth and final year of the contract, resulting in a total pay increase of over 43%. Additionally, workers will also receive a $12,000 ratification bonus.

Boeing workers continue strike after rejecting company offer, seeking improved terms in negotiations.

Boeing will be under a spotlight Wednesday as the beleaguered aviation giant announces what is expected to be its biggest quarterly loss in four years, and striking employees vote on whether to end a costly weeks-long stoppage.

Union leaders expect a close vote when 3,000 Boeing hourly workers weigh a sweetened contract offer that could end an almost six-week strike, the union's chief said Tuesday.

Boeing announced it will reduce 17,000 jobs and to issue 60-day layoff notices next month to thousands of employees in its commercial aviation division. The company plans to implement the layoffs in mid-January.

In his first day at Boeing, Kelly Ortberg visited the factory floor to speak with workers on the 737 MAX program, part of the new CEO's effort to "reset" labor relations.

Negotiators from Boeing and the machinists union representing its workers resumed talks Tuesday after some 33,000 employees went on strike late last week, effectively shutting down two Seattle-area factories.

Negotiators from Boeing and the machinists union are scheduled to resume talks Tuesday after some 33,000 workers went on strike late last week.