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Some 33,000 members of Boeing’s machinists’ union are now in the second month of their strike against the company. On Tuesday members held a huge rally at the International Association of Machinists and Aerospace Workers (IAM) 751 Union Hall in South Seattle.

Hundreds of members drove in, walked in or were brought to the rally by bus. Some heavy hitters were also there and spoke to the crowd, including U.S. Senator Maria Cantwell, Congresswoman Pramila Jayapal and Washington Labor Council President April Sims.

“In the last decade of this contract, the cost of living has gone up 30% but your wages only went up 15%,” Cantwell told the group. “So, today we’re here to say that a fair contract is about paying one of the greatest unions in the world … our Puget Sound economy depends on it.”

Related news: Boeing gets $10B credit line, plans to shed stock and cut 17,000 jobs as strike wears on

Analysts estimate the strike is costing Boeing around $1 billion a month. Nearly 33,000 machinists walked off the job as a way to demand higher wages, better benefits and the restoration of a defined-benefit pension plan that was eliminated a decade ago.

“You deserve respect,” Jayapal told the group. “You deserve dignity. You deserve a fair contract, fair wages, healthcare benefits, and pensions.”

Among the union’s demands is a 40% pay raise. Boeing most recently offered a 30% pay raise offer but has since retracted it. Talks have since stalled despite both parties maintaining their openness to future negotiations.

Boeing has approximately $45 billion in net debt but ended September with $10.3 billion in cash and securities — close to the minimum amount the company has said it needs to operate, according to The Wall Street Journal — in addition to the $10 billion it can acquire through selling stock.

“These are two prudent steps to support the company’s access to liquidity,” Boeing said in a statement.

Boeing also announced it’s cutting its global workforce by 10%, around 17,000 jobs, as a cost-cutting measure.

“While our business is facing near-term challenges, we are making important strategic decisions for our future,” newly appointed CEO Kelly Ortberg said in a statement.

Past coverage: Boeing to lay off about 10% of its workforce, stop most production of 767s amid strike

However, those at the rally are not buying it.

“I just want to call on Boeing to stop all the scare tactics and intimidation,” IAM General Vice President Gary Allen told the crowd. “It doesn’t work and, in fact, it makes us stronger.”

Washington Labor Council President April Sims also spoke.

“$68 billion for shareholders and they can’t give you your due? That sounds like some BS to me,” she told the members.

In response to the rally, Boeing emailed a statement to ³ÉÈËXÕ¾ Newsradio and MyNorthwest.

“We remain committed to finding a solution to end the strike,” the company stated. “We will work with the union when they are ready to bargain an agreement that recognizes our employees and preserves our company’s future.”

James Lynch is a reporter at ³ÉÈËXÕ¾ Newsradio. You can read more of James’ stories here. Follow James on , or email him here.