The latest offer included a 30% raise, which was 5% more than its last offer, and a restoration of its performance bonus.

Boeing has withdrawn a contract offer that would have given striking workers 30% raises over four years after talks broke down.

By Shivani Tanna and David Shepardson (Reuters) -Talks between Boeing and its key manufacturing union broke down, and no negotiations are currently planned as the financially damaging strike heads into a fourth week.

Boeing on Tuesday said that it has withdrawn its pay offer after negotiations with the International Association of Machinists and Aerospace Workers (IAM), whose members are on a strike against the company.

Negotiations between airplane maker Boeing and its union broke down this week with both sides pointing the finger at the other for their current standoff with a strike that is approaching one month.

Negotiations broke down between Boeing and its largest union, eroding hopes of a quick end to a strike that has halted production of most airplanes. Boeing shares fell 3.4% Wednesday after the company and the union accused the other of refusing to budge late Tuesday.