The enforced football shutdown has left Hibernian "under the most severe strain and threat," says chairman Ron Gordon.
And he warned "difficult decisions" will have to be made to help the club survive the crisis.
With the season suspended until at least 30 April, Edinburgh rivals Hearts have asked staff to take a 50% pay cut.
"Although Hibernian is better positioned than most to weather the storm, we are far from immune," Gordon said in a message to fans.
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"We have already begun making operational adjustments to impact our costs and will be taking further steps over the next week or so to mitigate the effects of the crisis on our club.
"The loss of cash in the bank puts our club under the most severe strain and threat."
As well as missing out on income from league matches during the coronavirus crisis, Hibs have had their Scottish Cup semi-final against Hearts postponed.
"Difficult decisions will have to be made," Gordon added. "But every decision we do make will be with two key priorities in mind, firstly to look after our people, and, secondly, to ensure the club remains in as healthy a financial position as possible."