In April, it also announced that it is laying off 10% of its global headcount, almost double from the aforementioned 6%.
According to multiple sources within the startup, honestbee has retrenched at least 50 to 70 people out of its 1,000-strong staff across several markets.
In addition to this, multiple senior executives have tendered their resignation with the company.
In Singapore, key executives like co-founder Isaac Tay and managing director Chris Urban have left the firm, reported Tech in Asia.
Another co-founder Joel Sng, has also stepped down from his CEO role in May.
Today, yet another executive — Christina Lim, honestbee’s vice president of marketing — has left the firm.
She was previously overseeing the marketing team to drive brand awareness and loyalty across all its business verticals, and has been with the firm for a year.
Following her departure, Lim told Marketing Interactive that she will be focused on consulting work for companies, helping to drive changes in terms of business operations and growth.
Featured Image Credit: Marketing Interactive