India, Jan. 30 -- Undertaking its second restructuring exercise in a year, EV manufacturer Ola Electric is set to cut 5% of its workforce.

In a statement, the company said that the job cuts are part of its efforts to undertake a business turnaround, under which it is focusing on building on early gains realised from its recently launched delivery service Hyperservice. This service, under which the company offers "one-day resolution" of service-related issues, has now expanded to over 80% of service requests nationwide, it said.

Ola Electric said it plans to focus on doubling down on speed and discipline by increasing automation across its front-end operations. As per EPFO data, Ola Electric employed more than 3,000 employees as of Augus...