Last season's Champions League finalist just avoided relegation to Bundesliga II and their failure to qualify for Europe will have a serious effect on Bayer's budget for the next campaign.
"We will undertake an exact analysis of the situation and then make the appropriate decisions - but there's going to be a cut," Calmund said.
Next season will see a decrease of around ‚é¼25 million in the club's coffers and Calmund sees no other way of combating the problem than selling some of his large squad and considering pay-cuts.
He added: "We've got ourselves into this trouble and now we've got to pull ourselves out of it.
"It's up to the players to compensate for their role this season by getting their act together.
"We will check the legal possibilities regarding wage-cuts."
Argentinian international Diego Placente, midfielder Pascal Ojigwe and striker Thomas Brdaric would appear to be on their way out of the BayArena, whilst stars Lucio, Bernd Schneider and Yildiray Basturk could join the exodus if Bayer receive appropriate offers.
"It seems to be Bayer's fate not to be able to say 'no' to big offers," Calmund sighed.
