Over 30,000 Boeing workers are preparing to strike after rejecting a new labor contract

• Over 30,000 Boeing workers plan to strike after rejecting a new labor contract.
• The strike would halt most of Boeing's production in Washington and Oregon.

Over 30,000 Boeing workers are preparing to strike on Friday after rejecting a new labor contract.

Workers in Washington and Oregon voted against an agreement that Boeing and the labor union for machinists and aerospace workers proposed on Sunday.

The strike would pause most of the American aircraft maker's production, a headache for the company grappling with safety and reputation concerns after taking several hits this year.

The rejected contract would have increased workers' general wages by 25% over the length of the four-year contract. Boeing would also build its next commercial plane in the Seattle area, as long as the program is initiated within four years of the contract. The tentative labor contract, which includes a pay increase over four years, was touted as another win for the beleaguered company.

The proposal left workers unsatisfied, Jon Holden, president of the IAM's district 751 and lead negotiator on the Boeing contract, told Reuters on Monday.

"They're angry," Holden told Reuters. "It's hard to come off of 10 years when you lost so many things that were critical."

Some union members had been pushing for a much higher wage hike— up to 40% — and the return of the company's pension plan, which it discontinued a decade ago, Holden said.

This is a breaking news story, please check back for updates.