Fremantle have also established a skeleton crew of staff on severely reduced hours to ensure the club remains operational during the suspension period.
Staff, who were advised of the cuts during the past 24 hours, were also warned further cost cutting may be required.
“These are unprecedented times which require unprecedented responses, just as is happening to people and businesses everywhere in the community,” chief executive Simon Garlick said.
“While our club has faced its challenges before it is impossible to overstate the implications this crisis has for the very existence of the Fremantle Football Club.
“Our players and staff, along with our passionate fan-base, are our strongest assets, and yesterday was a dark day for our club as we communicated these decisions to our people.
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“These extremely tough decisions have been made with one hope in mind – that we can rebound as a club financially at some point in the future and have our people, who mean so much to us, return to the fold at Freo.
“We believe taking these measures on jobs today presents the best opportunity for jobs tomorrow.”