California to workers: It’s minimum wage for you

Full Story at money.cnn.com

NEW YORK (CNNMoney.com) — A year ago, California dealt with its budget crisis by handing out hundreds of thousands of IOUs to contractors and taxpayers. This year, it’s threatening to cut state workers’ wages to the bone.

Most of California’s 240,000 state employees could see their salaries temporarily cut to the federal minimum wage because government officials can’t reach agreement on a new fiscal-year budget for the financially troubled state.

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