Schalke players have agreed to partially forego their wages until the summer in order to limit the financial damage caused by the coronavirus pandemic, the Bundesliga club announced Friday.

“The first team players have agreed with the club's leadership that they will waive parts of their salaries and bonuses until 30th June 2020,” Schalke said in a statement.

The move would help protect the jobs of around 600 Schalke employees and would relieve the club of “millions” of euros worth of costs, the statement added.

READ: Coronavirus: Top Bundesliga clubs pledge €20m to support smaller clubs

“That the players have recognised their responsibility in this way is a great sign of loyalty,” said Schalke sporting director Jochen Schneider.

“It's a clear signal: we all stand together for our Schalke, not just in good times, but above all in bad times.”

Coach David Wagner and other club directors would also “make contributions” the club said.

With the Bundesliga suspended until at least the end of April and this season's TV revenues still in the balance, Schalke directors had previously warned that the “existence of the club” was at stake in the coronavirus crisis.

It is not the only German club at which players have taken a salary cut in recent weeks.

Bayern Munich stars have agreed to forego a fifth of their normal wages, while a similar scheme has been proposed at Borussia Dortmund.

Players at Union Berlin and Werder Bremen have also agreed to wage cuts.