The troubled aircraft manufacturer Boeing has agreed with the union on a preliminary wage agreement, reports the Wall Street Journal (WSJ).

The strike affecting 33,000 employees may therefore soon be over.

According to the newspaper, the new agreement means 35 percent salary increases over the next four years.

The strike, which has halted large parts of the company's production, has been ongoing since September 13. As recently as last week, the parties announced that negotiations had broken down after company management withdrew its latest wage offer and accused the union of being intransigent.

The union announced the new offer on Saturday morning local time, stating that it is good enough to be presented to and considered by members.

According to the WSJ, the plan is to hold a vote on Wednesday, when at least 50 percent must vote yes for the agreement to be approved.

The background to the strike is demands for compensation for what is considered a decade of small wage increases that have been eaten up by inflation.

The strike has hit the aircraft manufacturer hard, with it estimated to be losing up to $1 billion a month. It was recently announced that 10 percent of its workforce – equivalent to 17,000 employees – will be cut.

Source: TT-DI.SE