Boeing, the US aerospace giant, is close to resolving a labor dispute that has significantly impacted its production. The International Association of Machinists and Aerospace Workers (IAM), which represents about 33,000 employees, has reached a preliminary agreement with the company, potentially ending a strike that began on September 13. According to the union's negotiating committee, the proposed agreement includes a 35 percent wage increase over four years, negotiated with the support of Julie Su, the current US labor secretary. The agreement also includes a one-time bonus of $7,000 and pension benefit improvements. The union described the offer as substantial and worth considering.

IAM members will vote on the new proposal next Wednesday. If ratified, the strike, which according to Bank of America analysts is costing Boeing about $50 million a day, will end. The move comes shortly after CEO Kelly Ortberg announced an imminent 17,000 job cuts at the company. The situation suggests a critical phase for Boeing, which is trying to stabilize its workforce while adapting to current economic and production needs.

The industrial giant is expected to report third-quarter results on Wednesday. It said last week that it expects to report a loss per share of $9.97 for the period on revenue of $17.8 billion. Its shares rose early this morning following the deal with IAM.