Boeing's $BA (-0.65%) machinists have voted to strike, rejecting a contract deal negotiated by their union leaders. About 33,000 workers in Washington state will walk off the job when their current contract expires. The vote was decisive, with 95% rejecting the deal and 96% voting to strike.

Workers are upset, feeling the union settled for too little, especially after a 2014 deal eliminated their pensions. The rejected contract offered a 25% wage increase over four years and promised to build Boeing's next new plane in Washington, but workers wanted more after years of small raises.

This strike will impact Boeing's ability to deliver planes and generate cash, potentially affecting its credit rating. While a short strike might be manageable, a long one could hinder Boeing's recovery.

The strike could also have political implications as the presidential election approaches, with candidates seeking to appeal to union voters. Despite Boeing's CEO urging acceptance of the deal, workers are ready to strike for better terms, continuing a long history of strikes at Boeing.