The Premier League called for players to take a 30 per cent pay cut in a statement released on Friday.
Foster agrees something must be done, but warned there must be a structure for all players across the competition.
"Pretty much every footballer I've spoken to... I think it is something we understand, we completely agree that something needs to be done," Foster told talkSPORT.
"But from a player's point of view, and I'm sure the PFA will be talking about it today. As long as it is done in a structured manner.
"It is important to cover every team with the same [policy], whether it's a deferral or a cut, so that we are all under the same blanket.
"Now, more than ever, it is so important that we do this together. When you start getting teams doing their own individual wage cuts or deferrals, that's when it starts to get a bit messy.
"I know from talking to everyone at Watford that we are understanding that this needs to happen.
"Something like this is unprecedented. No one knows where it's going or how hard it's going to be. If we can do something in the meantime, you've got to do it."