Albion face an uncertain future as the credit crunch affects their finances
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Plymouth Albion's players could be forced to take a pay cut as the club tries to fight the economic downturn.
The National League One club is facing a shortfall in its budget as the credit crunch affects its gates and revenue.
Meetings with players and staff took place on Monday and are set to continue on Tuesday.
"In the current situation the club is trying to be prudent. Wage cuts were discussed," chairman of rugby Graham Dawe told BBC Devon.
In a statement Albion chairman Graham Stirling said the club had taken out loans to fund the development of the Brickfields stadium and expected certain income streams to pay for that work.
"The severe economic conditions, which became evident in the late summer, have resulted in these sources of funds now either being deferred or cancelled," he said.
"This means we have to reduce our costs mid-season, which will include some redundancies on the non-playing side and a reduction in both players' and commercial staff salaries."
Albion have 12 players out injured and are sixth in National League One, the division below English rugby's Premiership.
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