Cricket Australia has announced 80 per cent layoff for all its staff to deal with the COVID-19 crisis.
Cricket's global suspension has meant no cash inflow from the broadcasters and sponsors, important for the board to smoothly continue with its day-to-day operational activities.
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In wake of the situation, CA has already delayed announcing the next round of central contracts for players and confirmed 80 per cent layoff for all its staff for the rest of the financial year which ends on June 30.
Local reports suggest that the governing body down under will run out of cash by August in such circumstances.
"I was a bit surprised there but there has to be some impact, no doubt," Hazlewood was quoted as saying by Sydney Morning Herald.
The 29-year-old said players will be willing to endure pay cut from their salaries. "We are no different from any other sport. It just depends how long it hangs around as to how much it is going to affect us, I guess. If it leads into next summer, it will be quite serious," said Hazlewood.
"We (players) are obviously partners in the game and we’ve always said that. We have ridden the highs and now its probably time to ride the lows, a little bit."
Relationship between CA and Australian Cricketers' Association (ACA) hit rock bottom in 2017 over a pay dispute, but things have improved with time.
"I think the relationship is a lot better now, between the ACA and CA," Hazlewood said. "It’s developed a long way in the last 18 months to two years, probably."
"So that will go a long way towards having this episode (handled) a lot better than last time. It’s all positive from our end and I think, from both ends."
"Hopefully it’s a lot better communication this time and I think you will see that in the coming weeks and the coming months. As long as they show a lot of transparency on all the numbers, all the players will be pretty happy with that," he added.
The MOU signed in 2017 makes it necessary for the CA to provide ACA with revenue estimates and a national contract list for the upcoming summer by April 30. Hazlewood wants that deadline to be met on time so that the players are prepared to fight this phase through.
"April 30 is what the players want and it’s in the MOU but I guess these are strange times. Anything can happen."
"The ideal (situation) is that they’re put out before April 30 and obviously then we will know, financially, what we can get ready for and how much of a percentage is lost and how much of our contracts are affected," Hazlewood added.
"The sooner we know that, the more we can plan for the next 12 months."
(Inputs from PTI)