The strike involving over 30,000 Boeing employees, who manufacture planes on the U.S. West Coast, entered its fourth day on Monday. Negotiators from both the company and the union are set to meet again on Tuesday to discuss a labor agreement.

Last week, members of the International Association of Machinists and Aerospace Workers (IAM), which is Boeing’s largest union, overwhelmingly rejected a contract proposal that offered a 25% pay raise over four years but eliminated annual performance bonuses.

Union leaders are scheduled to meet with federal mediators and Boeing representatives to restart negotiations on Tuesday, according to an IAM update posted on social media.

Jon Holden, the chief negotiator for the union, indicated that workers are seeking a better wage offer from Boeing and the return of a defined-benefit pension that was discontinued ten years ago, under the agreement to maintain plane production in Washington State.

Two union insiders told Reuters that while they did not expect the previous pension plan to be reinstated, the demand could be leveraged for higher pension contributions and better pay from the company.

Union members on the picket lines around Seattle expressed optimism about their chance to secure a more favorable deal, though many anticipate a lengthy process.

“Given the history of negotiations between Boeing and the union, I don’t expect things to move quickly,” noted Chris Ginn, a 37-year-old factory worker who builds 777 jets.

This marks the eighth strike since the IAM’s Boeing chapter was formed in the 1930s. The previous two strikes, in 2008 and 2005, lasted 57 days and 28 days, respectively.

Boeing’s Chief Financial Officer Brian West mentioned in a memo that the company plans several measures to conserve cash during the strike. These steps include halting orders from many suppliers, implementing a freeze on hiring and salary adjustments, cutting back on employee travel, and suspending charitable donations as well as consultant contracts, among other initiatives.

According to Reuters, several employees are using past strikes as a guide for their financial planning since they will not receive pay during the work stoppage. The union offers striking members $250 per week to help during this period.

“I can manage for six weeks, maybe eight weeks, but it’s up to Boeing to decide when they will come forward with a reasonable offer,” stated Thinh Tan, an engineer at the 737 MAX factory.

Many workers are expressing frustration that has been building for over a decade, as their wages have not kept pace with inflation while executive bonuses have soared.

“I can hardly make ends meet,” shared Ginn, holding his son in one arm while brandishing a sign that reads ‘On Strike Against Boeing’ in the other.

Before the strike began, Boeing was already struggling with safety and production issues, notably a door panel detaching from a nearly new 737 MAX in midair back in January.

On Friday, Fitch and Moody’s joined S&P Global Ratings in warning that a prolonged strike could result in a downgrade for Boeing’s ratings, which is already facing $60 billion in debt.

Contributing: Zach Wichter, YSL News