The Globe and Mail reports in its Monday edition that workers from Boeing walked picket lines Friday in the Pacific Northwest instead of building airplanes after they overwhelmingly rejected a proposed contract that would have raised their wages by 25 per cent over four years. An Associated Press dispatch to The Globe says the strike by 33,000 machinists will not disrupt airline flights any time soon, but it is expected to shut down production of Boeing's best-selling jetliners, marking yet another setback for a company already dealing with billions of dollars in losses and a damaged reputation. The company said it was taking steps to conserve cash while its chief executive officer looks for ways to come up with a contract that both sides can accept. Late Friday, the U.S. Federal Mediation and Conciliation Service said it would convene new talks early this week. Boeing stock fell 3.7 per cent Friday, bringing its decline for the year to nearly 40 per cent. The strike started soon after a regional branch of the International Association of Machinists and Aerospace Workers released Thursday's vote where 94.6 per cent of participating members rejected a contract offer that the union's own bargaining committee had endorsed.