The striking workers represent 22 percent of Boeing’s workforce; a 50-day strike could cost the firm between $3 billion and $3.5 billion, according to TD Cowen.
Tens of thousands of Boeing workers walked off the job on Sept. 13 after rejecting a contract deal, marking the first strike since 2008.
Members of two local unions of the International Association of Machinists and Aerospace Workers overwhelmingly voted on Thursday night to reject the latest contract offer and initiate a strike. According to the unions, 94.6 percent voted to reject the contract, and 96 percent supported walking off the job. The strike began at midnight.
The 33,000 striking workers represent 22 percent of Boeing’s workforce. The Virginia-based company manufactures planes and other products.
Boeing and the unions said at the weekend that they had reached a tentative agreement on a new contract, which includes changes such as raising the starting base pay from at least $12 an hour to $21 an hour, as well as offering the option to receive a pension as a lump sum payment upon retirement.
“We have achieved everything we could in bargaining, short of a strike. We recommended acceptance because we can’t guarantee we can achieve more in a strike.