All Blacks head coach Ian Foster has confirmed he will be taking a pay cut as New Zealand Rugby looks to limit its costs during a time of uncertainty.

In an attempt to counter the enconomic impact of the coronavirus pandemic, sporting bodies around the world have begun to cut costs and player salaries. Now, NZ Rugby is following suit.

Speaking to Newstalk ZB's Martin Devlin, Foster said he's agreed to a pay cut - saying there had been great leadership shown by NZ Rugby during the crisis and that players were also willing to take pay cuts.

"Our coaching group has definitely taken a big cut," Foster added.

The confirmation of his salary being cut comes after many players have spoken openly about being willing to take a pay cut for the good of the game, including Hurricanes and All Blacks hooker Dane Coles.

"That's totally understandable considering what's going on in New Zealand," Coles told Radio Sport's D'Arcy Waldegrave earlier in the week.

"Rugby players in New Zealand might have to prepare for that but that's just my opinion. You don't want New Zealand Rugby to go under, it would be a bad thing. So hopefully the rugby players around New Zealand can do their part.

"After what's come out I don't think we'll be getting together again too soon. Which is fair enough. At the end of the day it's just rugby and there's more to life at the moment to worry about, so we'll just take it as it comes."

English rugby has already been hit by pay cuts, with national team coach Eddie Jones agreeing to a 25 per cent reduction in his salary, while six Premiership rugby sides have also agreed to take 25 per cent pay cuts.

Football players from German clubs Bayern Munich and Borussia Dortmund have also agreed to take pay cuts, with a 20 per cent reduction in salary, while the NRL will reportedly ask its players to cop a mammoth 87 per cent pay cut while the competition is in lockdown.