The CEO has reiterated the Baggies remain financially stable.
But with the club having next-to-no income with football currently suspended, Jenkins has opted to forgo his salary while the UK remains in lockdown.
Other members of Albion’s senior management team have also offered to take significant reductions to their pay.
In a statement, Jenkins said: ““I thought it appropriate that I take this opportunity to bring our supporters up to date with how the club is faring at this extremely difficult time for everyone.
“Obviously, the priority for us all is the health and welfare of our loved ones and beyond that, giving all the support we can to the front-line staff who are leading the fight against Covid-19.
“But it is my core task now to do all I can to steer the club safely through challenges we have never faced before and that responsibility will be at the heart of every decision taken in the difficult days which remain ahead.
“On Friday both the EPL and EFL agreed to postpone its fixtures indefinitely, which will test all football clubs throughout the country. At the moment, the club is financially stable and remains so for the foreseeable future.
“Everybody is fully aware these are very uncertain times in which we simply cannot forecast what the future holds.
“Until we regain a level of certainty, we cannot be sure if planned income will actually be received or if we will be forced to utilise cash the club already holds to refund existing commitments.
“What we do know for fact is that our operations are almost completely closed down and we are receiving virtually no income. Almost all of the club’s usual costs still need to be paid, the majority of which are wages whether this be admin staff, maintenance teams, management or, of course, the first-team players.
“With that in mind, I think it is only correct that for the duration of this lockdown I take a 100 per cent cut in my salary and other members of the senior management team have also offered to take significant reductions in their remuneration.”