A Woodside spokesperson told Energy News this morning that the major "has completed a business review to address the impact of the downturn in the commodities market".

"The outcome is that about 300 roles will be made redundant," the spokesperson added.

Coleman yesterday attributed the raft of redundancies to the oil price plummeting over the past year, prompting the company to fast-track its restructuring so the company can meet its goals in the new price environment.

The company has already announced it would cut its 2015 operating expenditure by about 15% and investment expenditure by roughly 20%, which Woodside again attributed to the oil price fall.

Coleman was paid $8.5 million last year after his salary was increased, with nearly $3 million of that coming in short-term bonuses during the year.

Most of his senior team also enjoyed pay rises last year, with chief financial officer Laurie Tremaine and executive vice president of development Robert Edwardes pocketing $1.9 million each; though chairman Michael Chaney's pay was reduced from $714,900 in 2013 to $691,500.

These executive pay rises and Chaney's unfortunate cut were announced last month as Woodside said it had lifted its 2014 calendar year profit by 38% to $2.4 billion and re-affirmed its production targets for this year.

Coleman said at the time that 320 jobs had gone last year and that the company was looking to shed roughly the same this year to lower the Aussie major's costs - a forecast confirmed in yesterday's email.

"Given the price of oil has effectively halved over the past year, putting pressure on our bottom line, it is clear that we must accelerate existing plans to improve efficiency and effectiveness throughout the business," Coleman said in yesterday's email.

"This includes bringing forward delivery of a more streamlined organisational structure in which we have the right number of people in the right places doing the right work to deliver on our aspirations.

"It means about 300 roles will be made redundant. Others may experience a shift in responsibilities. All positions have been considered in line with our long-term strategic imperatives.

"Over the coming week, your functional leader will provide more detail on what this means for you and your part of the business. If your position is directly affected, you will be personally consulted. Support and guidance will be available as we make this transition.

"We have also decided that there will be no immediate remuneration increases.

"This applies to all employees. The situation will be reviewed in Q3."