Boeing machinists union leadership has endorsed the latest contract proposal and is calling for a vote early next week, possibly bringing an end to a weekslong strike.

“It is time for our Members to lock in these gains and confidently declare victory,” The International Association of Machinists and Aerospace Workers said in a statement. “We believe asking members to stay on strike longer wouldn’t be right as we have achieved so much success.”

The recommendation comes just over a week after union membership voted to reject a previous contract proposal, and just under seven weeks after 33,000 union members walked off the job on Sept. 13. 

IAM leadership said the latest proposal “builds on everything achieved in the September 12, 2024 agreement,” and also adds a general wage increase of 38% over four years. 

According to the company, the average machinist’s pay would be $119,309 when the contract ends, an increase of about $43,700 from the previous contract’s average.

The new proposal also combines a $7,000 ratification bonus from the previously rejected contract, and a $5,000 retirement benefit into one $12,000 lump sum that members can choose to either add to their paychecks, their 401k or a combination of the two. 

While the latest offer raises the company’s 401k matching, the pension benefit that was frozen back in 2014 was not brought back. Reinstatement of that pension plan was one of the key issues that led union membership to reject the previous offers.

Union members will vote on the latest proposal on Monday.

The machinists’ strike has halted production at assembly plants in the Seattle area, and Boeing can’t produce any new 737s until the strike ends.

Boeing continues to try to regain its footing amid manufacturing issues and federal investigations concerning the January in-air panel blowout on an Alaska Airlines flight.

Last week, the company reported a $6.1 billion third-quarter loss.

contributed to this report.