Boeing Co.  announced on Tuesday that it has withdrawn its pay offer to approximately 33,000 U.S. factory workers as a strike nears its fourth week, with no further negotiations planned. Talks between the aerospace giant and the workers' union, facilitated by federal mediators, collapsed on Monday and Tuesday, leaving both sides at a standstill. According to sources, there are no signs of a resolution in the near future.

Stephanie Pope, head of Boeing Commercial Airplanes, addressed the employees, stating that the union failed to consider Boeing's proposals seriously, labeling the union's demands as "non-negotiable." She added that continuing negotiations "do not make sense at this point," and Boeing has taken steps to preserve cash in the meantime.

As a result of the strike, Boeing's production of its popular 737 MAX, 767, and 777 aircraft remains halted, further straining the company's finances. Boeing is reportedly exploring options to raise billions of dollars through a stock sale and other securities as it faces the risk of losing its investment-grade credit rating. Thousands of salaried employees have already been furloughed temporarily.

The union, the International Association of Machinists and Aerospace Workers (IAMAW), is seeking a 40% pay increase over four years and the reinstatement of a defined-benefit pension that was removed a decade ago. Prior to the strike, more than 90% of workers rejected Boeing's offer of a 25% pay rise over four years.

In a statement, the union accused Boeing of refusing to negotiate in good faith. "They refused to propose any wage increases, vacation/sick leave accrual, progression, ratification bonus, or the 401k Match/SCRC Contribution," the union said. "They also would not reinstate the defined benefit pension."

As the strike continues, both sides remain entrenched in their positions, with no end in sight to the impasse.