Boeing is set to resume talks with union on Wednesday

Boeing (NYSE:BA) on Wednesday will restart talks with its biggest union in the presence of federal mediators. The resumption of talks comes a day after the parties didn’t reach an agreement on wages and pensions, the International Association of Machinists and Aerospace Workers said on its website.

Workers represented by the union have sought a 40% raise over four years in its first full contract negotiations with the aviation giant since 2008. More than 30,000 union members went on strike Friday after rejecting a proposed agreement for a 25% raise and other concessions.

“After a full day of mediation, we are frustrated, the company was not prepared and was unwilling to address the issues you’ve made clear are essential for ending this strike: Wages and Pension,” the union said. “The company doesn’t seem to be taking mediation seriously. With a 96% strike vote, we thought Boeing would finally understand that IAM 751 Machinists are demanding more. We are fighting for what is right and just – for what we have earned over the past 16 years.”

The strike stopped factory production of Boeing’s 737 Max narrowbody jets, and on 777 and 767 widebody planes.

On Monday, Boeing (BA) said it froze hiring. It was also considering furloughs to cut costs. The company has about $60 billion of debt, making free cash flow a priority.