Boeing is facing a significant financial crisis as approximately 33,000 members of the International Association of Machinists and Aerospace Workers (IAM) voted 64% against a revised contract offer, prolonging a strike that has lasted over five weeks. The rejected proposal included a 35% wage increase over four years but did not meet the union's demand for a defined-benefit pension plan, leading to further industrial action that costs the company an estimated $1 billion monthly. Boeing's latest financial results revealed a staggering $6 billion loss, exacerbated by halted production of key aircraft models, including the 737 MAX and 777. The IAM has been advocating for a 40% salary increase after a decade of stagnant wages and continues to push for better benefits. Boeing's CEO, Kelly Ortberg, announced plans to reduce the workforce by 17,000 employees in response to the ongoing financial strain. The company is grappling with the repercussions of the strike, which has compounded existing production issues and severely impacted its supply chain.