Nearly a month into a union walkout, the aerospace giant withdrew its latest contract offer, and the two sides exchanged blame over the breakdown.The New York Times reports that after nearly a month of a union walkout, Boeing has withdrawn its latest contract offer and both sides are blaming each other for the breakdown. The aerospace giant and its largest union seem to be preparing for a prolonged battle, with some striking workers seeking temporary jobs and the company facing the possibility of a credit rating downgrade.

Negotiations between Boeing and the union resumed this week with the help of federal mediation, but they fell apart on Tuesday when the company pulled its offer. In a statement to employees, Stephanie Pope, the CEO of Boeing’s commercial airplane unit, stated that the union’s demands were too high for the company to remain competitive.

The union, on the other hand, accused Boeing of being stubborn and sticking to an offer that had previously been rejected by labor leaders. This offer was deemed insufficient to gain the support of the majority of the union’s 33,000 members.

The strike, which began on September 13, is a major setback for Boeing, which has not reported a full-year profit since 2018. The longer the strike continues, the more money the company loses as workers are unable to build planes. Additionally, Boeing is currently trying to convince regulators to allow them to produce more 737 Max jets, their best-selling plane. The strike has also taken a toll on workers, many of whom are relying on their savings and have had to find alternative health coverage after being dropped from Boeing’s plan.

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