Last Friday, Boeing reached a new contract proposal with its union and is voting on it today.

The latest results show that 59% of the striking workers support approving the contract, which means the 7-week strike has finally ended.

The union demands that workers must return to their positions by November 12th, but they may return as early as this Wednesday (November 6th).

Nearly 60% of the workers are in favor.

On Monday, tens of thousands of striking Boeing machinists voted, with 59% agreeing to accept the contract and end the strike.

This is the third vote since September, with International Association of Machinists and Aerospace Workers (IAM) members rejecting Boeing's quotes twice, on September and October 23rd.

The latest contract includes: an overall wage increase of 38% over four years, a signing bonus of $0.012 million, reinstating the Annual My Performance bonus program (AMPP), and increasing contributions to the 401(k) retirement plan.

IAM said that considering compound raises, the final salary will increase by 43.65%. Boeing stated this will raise the average annual salary of machinists to $119,309 in the next four years.

Overall, IAM 751 District President Jon Holden believes this is a victory. He said, "We can hold our heads high. We have all stood strong, achieving accomplishments never seen in the past 22 years."

However, it is worth noting that Boeing has still rejected the workers' demand to restore the old retirement plan.

Holden acknowledged that retirement may be a major issue for the 41% who voted against the deal. But he said, "Our members deserve retirement, just as every worker should have a secure, fair retirement future. We will continue to address this issue."

The earliest start date is this Wednesday.

Regarding the return-to-work plan, IAM stated that workers must return to their positions by November 12th, but they may return as early as the first shift on Wednesday (November 6th).

Holden and IAM W24 District President Brandon Bryant said in a joint statement that they are "ready to help Boeing change course, recommitting to manufacturing the highest quality and safest airplanes in the world."

They stated that union members are "crucial to this mission, now having a stronger voice in the decision-making process to ensure the necessary improvements are made."

In addition, boeing is also satisfied with the results.

CEO Kelly Ortberg said in a letter to employees: "Although the past few months have been difficult for all of us, we are all part of the same team. We can only move forward through listening and working together. There is still much work to be done to restore the legacy of excellence that defines boeing as an iconic company."

After the voting results were announced, U.S. President Joe Biden also released a statement saying: "Over the past four years, we have proven that collective bargaining works. A good contract benefits workers, businesses, and consumers, and is key to the growth of the american economy."

Previously, boeing reported a loss of up to 6 billion dollars in the third quarter of this year, marking one of the worst quarterly performances in the company's history. According to Anderson Economic Group's estimate last month, boeing and its shareholders have incurred losses of approximately 5.5 billion dollars since the strike began in September.