• Login
Wednesday, September 27, 2023
THE VIEW
PRESSREELS
  • New SoundsHighlight
    • WW MUSIC
    • THE VIEW
    • INTERVIEW
    • Original
      • Review
      • Video
  • Discovery
    • CELEB
    • Media
    • Music
      • POP
      • Latin
      • K-POP
      • Industry
  • LifeStyle
    • Fashion
    • Foods
    • Mind
    • Diet
  • Business
    • News
    • U.S.
    • Asia
      • China
      • Japan
    • UK
  • California
    • Local
    • National News
    • Consumer
    • Public safety
    • Sports
    • Entertainment
PRESSREELS
  • New SoundsHighlight
    • WW MUSIC
    • THE VIEW
    • INTERVIEW
    • Original
      • Review
      • Video
  • Discovery
    • CELEB
    • Media
    • Music
      • POP
      • Latin
      • K-POP
      • Industry
  • LifeStyle
    • Fashion
    • Foods
    • Mind
    • Diet
  • Business
    • News
    • U.S.
    • Asia
      • China
      • Japan
    • UK
  • California
    • Local
    • National News
    • Consumer
    • Public safety
    • Sports
    • Entertainment
PRESSREELS
Honestbee

Honestbee CEO files an affidavit revealing that it owes $1 million in salary to employees

Samuel WaynebySamuel Wayne
Sep 24, 2019 4:58 pm KST
Tags: food delivery startupHonestbee

A Singapore-based startup named Honestbee has come under the radar as its CEO has filed an affidavit which reveals something glaring regarding its operations. We have reported that the company has been struggling with financial issues for a long time. Now, an affidavit filed by Honestbee’s CEO reveals that they owe 217 employees a total of almost USD $1 million in unpaid salary. This means that the company is in huge debts and we are not sure how long the company will run without funds on their hands. Honestbee CEO Ong Lay Ann filed this affidavit on September 20 as part of the startup’s debt moratorium application.

A spokesperson from Honestbee sent an email to TechCrunch revealing that “There is a communicated salary delay for Honestbee’s ex-employees and employees currently serving notice. While there are regular injections of working capital, the amount remains insufficient for all headcount. As a result, the company has made the difficult decision to prioritize existing staff in Singapore. The company has the full intention in meeting its obligations to staff and will be, if not already in active discussions with staff in relation to a feasible payment schedule.”

The statement clearly mentions that they are in a cash crunch and want to prioritize current staff rather than paying ex-employees and employees serving the “notice” period. Honestbee, which is a food delivery service, was operating in eight markets across Asia at one point of time. However, they were forced to stop operations in Hong Kong and Indonesia, temporarily halted services in Japan and the Philippines and suspended its food delivery service in Thailand as per a report.

This affidavit also reveals that Honestbee currently has 190 employees, down from 523 full-time employees and 77 part-time workers in January. Also, the company was already looking for buyers and is still looking for one as the CEO reveals Honestbee chairman Brian Koo resigned from the board on Sept. 12.

Previous Post

Google launches a subscription service for games and apps just like Apple Arcade

Next Post

Samsung’s next Galaxy Fold will be sold all over the world according to report

Samuel Wayne

Samuel Wayne

Samuel brings 6 years of experience in helping grassroots and mid-sized organizations to strengthen their management and resource generating capacities and effectively plan for the future. He is also a tech geek and loves writing on tech and sharing his opinions with the world. You can contact him at Samwayne92@gmail.com

  • New Sounds
  • Discovery
  • LifeStyle
  • Business
  • California

PRESSREELS is a future-oriented entertainment lifestyle brand that provides various content while being a media platform covering the United States and the United Kingdom.

DMCA.com Protection Status

A Part of Saint Modern Communication
© 2021 Saint Modern Communication. All rights reserved. Use of this site constitutes acceptance of our User Agreement and Privacy Policy and Cookie Statement and Your California Privacy Rights. PRESSREELS.com may earn a portion of sales from products that are purchased through our site as part of our Affiliate Partnerships with retailers. The material on this site may not be reproduced, distributed, transmitted, cached, or otherwise used, except with the prior written permission of Saint Modern Communication. Ad Choices

PRESSREELS

ABOUT US
CONTACT US
CONTRIBUTOR
  • New Sounds
  • Discovery
  • LifeStyle
  • Business
  • California

PRESSREELS is a future-oriented entertainment lifestyle brand that provides various content while being a media platform covering the United States and the United Kingdom.

PRESSREELS

ABOUT US
CONTACT US
CONTRIBUTOR
DMCA.com Protection Status

A Part of Saint Modern Communication
© 2021 Saint Modern Communication. All rights reserved. Use of this site constitutes acceptance of our User Agreement and Privacy Policy and Cookie Statement and Your California Privacy Rights. PRESSREELS.com may earn a portion of sales from products that are purchased through our site as part of our Affiliate Partnerships with retailers. The material on this site may not be reproduced, distributed, transmitted, cached, or otherwise used, except with the prior written permission of Saint Modern Communication. Ad Choices

© 2017 – 2023 PRESSREELS.COM Magazine. All Rights Reserved.

  • New Sounds
    • WW MUSIC
    • THE VIEW
    • INTERVIEW
    • Original
      • Review
      • Video
  • Discovery
    • CELEB
    • Media
    • Music
      • POP
      • Latin
      • K-POP
      • Industry
  • LifeStyle
    • Fashion
    • Foods
    • Mind
    • Diet
  • Business
    • News
    • U.S.
    • Asia
      • China
      • Japan
    • UK
  • California
    • Local
    • National News
    • Consumer
    • Public safety
    • Sports
    • Entertainment

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In

Copyright Notice.

All Rights Reserved.

All material appearing on the PRESSREELS website ("content") is protected by copyright under U.S. Copyright laws and is the property of PRESSREELS. You may not copy, reproduce, distribute, publish, display, perform, modify, create derivative works, transmit, or in any way exploit any such content, nor may you distribute any part of this content over any network, including a local area network, sell or offer it for sale, or use such content to construct any kind of database.