New York City Ballet announced on Thursday that it was canceling its spring season because of the coronavirus pandemic, but the company plans to pay its dancers, musicians and other employees through May 31, the date the season was to have ended.

The cancellation was expected, with museums shut down, theaters dark and cultural events of every kind on hold across the city. The decision means delays for two world-premiere works, which will be postponed to another season.

City Ballet board members approved the plan on a Wednesday afternoon conference call, said Katherine E. Brown, the company’s executive director. The cancellation of the season — which was set to begin on April 21 — would mean a projected financial loss of about $8 million for the company by the end of this fiscal year, which includes lost revenue from a spring gala.

“Because a dancer’s career is so finite, losing a season like this is going to have a lasting impact on them, emotionally and physically,” said Jonathan Stafford, the company’s artistic director. “We’re trying to do everything we can to support them off the stage.”