Everton's first team will voluntarily defer 50 per cent of their pay for the next three months.
The Merseyside club's CEO Denise Barrett-Baxendale confirmed the news in a letter to supporters.
Barrett-Baxendale has also revealed that Carlo Ancelotti, his backroom team and the board of directors voluntarily agreed to pay deferrals of up to 30 per cent in March.
Everton are due to resume their Premier League campaign behind the closed doors of Goodison Park with a Merseyside derby on June 21.
Goodison's staging of the game is still to be ratified, but the CEO says, "We continue to work with our colleagues at the Council and other organisations, to ensure the right decision is made for all parties and will advise you as soon as an outcome is reached."
While she didn't reveal specifics, Barrett-Baxendale says that, "Now that we have greater clarity on the return to play, we also have a much better understanding of the scale of the financial losses we will face and what this will mean for our club."
Everton captain Seamus Coleman has already shown his philanthropic side during the crisis.
The former Sligo Rovers full-back topped up a fund set up by former League of Ireland players now based in the UK aimed at helping current players struggling financially.
Speaking of the deferrals, Barrett-Baxendale says, "This remarkable show of unity has enabled the Club to maintain the salaries of all Everton and Everton in the Community full and part-time employees – all of whom have remained in full employment throughout this period - and enabled the Club to continue to pay its directly engaged matchday and non-matchday casual staff since our Club lockdown began on 13 March."
The Toffees' CEO says that owner Farhad Moshiri and CEO Bill Kenwright will match monies raised by the Blue Family campaign which aides their community initiatives.