Albion deputy chairman and chief executive Paul Barber confirmed they have predominantly spoken to club captain Lewis Dunk and Glenn Murray, who have been representing the players.
Albion are eager to find a quick solution to help ease the severe financial burden amid the coronavirus pandemic.
Barber, technical director Dan Ashworth and head coach Graham Potter - the club's three highest earners on the non-playing staff - each had a 'significant' pay reduction last week, while yesterday, Albion in the Community - the charitable arm of the football club - placed a number of their staff on furlough.
The players so far remain on full pay but have been given time off until May 1 at this stage.
"We have spoken to our players through two representatives, Lewis Dunk and Glenn Murray, who have been very constructive, very positive, very helpful and very understanding of the situation that our club is facing.
“In return we have been very transparent with them about our finances. We were already forecasting to lose quite a large amount of money during the 2019-20 season.
“The crisis, no matter how it unfolds, will no doubt result in even greater losses. We have been very transparent on that, which is one of the things the PFA, and Gordon Taylor, has required.
“I think it is entirely appropriate in these circumstances that we are transparent with our own staff and players. I don’t think we need to be transparent with anyone else, including the PFA.
“I have got to say the response of the players has been very positive and we have a very constructive dialogue going on with them.
“The other thing to say is our players have also made significant collective and personal donations over the past week or so to a number of different local charities.
“To an NHS health and wellbeing fund, to a homeless charity and a foodbank and also to a children’s hospice.
“The players have done that off their own bat, the club hasn’t been involved in that.
“They know this is a serious crisis, not just for companies but also for charities who rely on donations.
“Our players have taken it upon themselves to get involved with those good causes, which I think, as a club we are very proud of.”
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