About 20,000 Jaguar Land Rover (JLR) workers – half of its staff – have been furloughed because of the pandemic.
The car giant employs about 40,000 globally, with most based at Castle Bromwich in Solihull, Gaydon in Warwickshire, Whitley in Coventry, Halewood in Merseyside.
All production was suspended last month, in response to the outbreak.
The firm said its executive leadership team would also defer salary payments for the next three months.
Chief executive Sir Ralf Speth will take a 30% reduction, the board of management 20% and the executive leadership team a 10% reduction.
The wages of the staff that have been furloughed – those in non-critical roles – will be “topped up” to protect their 100% base salary during April, the firm said.
The company said it would continue to monitor the situation and follow government guidance.
“With production temporarily suspended at our plants in the UK, we are utilising the government’s Coronavirus Job Retention Scheme,” the spokesman said.
“Given the unprecedented circumstances, we have furloughed all roles that are not critical during this temporary period of disruption.”
In February, the manufacturer said it had flown parts into the UK in suitcases as the effects of coronavirus in China took its toll on its supply chain.
Last week, the firm said it had started supplying hundreds of protective visors made on its 3D printers at its Warwickshire site to front-line NHS staff.