Zarya, from the southwest Ukrainian city of Luhansk, are 11th in the country's top division.
"There has been a lot of talk in the press recently that our wages have been cut fivefold," the sport.com.ua website cited club captain Andriy Havrushiv as saying at a news conference. "We are officially confirming this."
Ukraine has been hard hit by the global economic crisis, with the economy shrinking by at least 25% in the first two months of 2009 alone and demand collapsing for the country's main exports of steel and chemicals. The national currency, the hryvnia, has also lost around 40% of its value.
"We want society to hear about this from us, so that there are no back-door intrigues," Havrushiv said. "This is the reality, and we can't keep quiet about it anymore."
He also added that the side would most likely play its next home match against FC Kharkov on April 11, but would boycott its April 19 away match with western Ukrainian side FC Karpaty Lviv if their wages were not increased.
Club trainer Anatoliy Volobuev told the website that he did not agree with the players' decision to strike. "The crisis has touched the coaches as well. We have also had our wages cut," he said.
The club president has yet to comment on the players' announcement.
