Boeing Co. backed down from a Friday night deadline for striking workers to approve its latest contract offer after union leaders refused to schedule a vote.

Striking workers say the plane maker isn't close to addressing their demands, and the work stoppage could cost the company billions.

Boeing is proposing a 30 percent pay increase and doubling the signing bonus in a bid to end a strike by machinists that is in its second week.

Boeing also renewed a promise to build its next new airline plane in the Seattle area -- if that project starts in the next four years. That was a key provision for union leaders,

Negotiators for the striking workers cast aside the possibility of a swift resolution to the impasse, saying they wouldn’t bring the new offer for a vote.

Boeing is giving the union representing striking factory workers more time to consider a revised contract offer with bigger pay increases and more bonus money, but it was unclear Tuesday whether the union would schedule a ratification vote on the proposal.