Connect with us

News

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

Published

on

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.

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

Breaking News

Death after unmasked arrest – Mexico Floyd

The official reason for the arrest revealed by the police is not known, but the video footage posted on social media at the time of the arrest suggests that the reason is “not wearing a mask.”

Published

on

Amid a stir across the U.S. over the “George Floyd” incident that killed white police abuses, similar cases of abuse of public power have been revealed in Mexico, sparking public outrage.

The daily El Universal has been protesting against the incident since it was belatedly revealed that construction worker Giovanni Lopez died the next day after being arrested by police in Guadalajara, western Mexico, on April 4.

The official reason for the arrest revealed by the police is not known, but the video footage posted on social media at the time of the arrest suggests that the reason is “not wearing a mask.”

Death of George Floyd

On May 25, 2020, George Floyd, a 46-year-old black man, died in Minneapolis, Minnesota, after Derek Chauvin, a white police officer, knelt on Floyd’s neck for almost nine minutes while Floyd was handcuffed face down in the street

Continue Reading

Breaking News

Nobel Prize Honjo, a professor at Kyoto University – 22.6 billion yen in legal battles

Professor Honjo plans to file a lawsuit against Ono Pharmaceutical Industry to increase the distribution ratio of patent fees in 2006.

Published

on

Dasuku Honjo, a professor at Kyoto University who won the 2018 Nobel Prize in Physiology and Medicine, will fight a 250 billion won legal battle with a Japanese pharmaceutical company that makes and sells cancer treatments that reflect his research results.

Professor Honjo plans to file a lawsuit against Ono Pharmaceutical Industry to increase the distribution ratio of patent fees in 2006.

Ono Pharmaceutical Industry Co., which reportedly proposed a donation of up to 30 billion yen to Kyoto University as a compromise last year, responded to Professor Honjo’s press conference by saying, “We cannot comment because we do not understand the contents,” Kyodo News reported.

Continue Reading

TREND

Billboard HOT 10

RESSREELS provides that chart based on official data on the Billboard chart (Source: Billboard HOT 100)

1
Rockstar
DaBaby Featuring Roddy Ricch
+1
2 Last | 1 Peak | 10 Weeks
2
Savage
Megan Thee Stallion Featuring Beyonce
+2
4 Last | 1 Peak | 15 Weeks
3
Blinding Lights
The Weeknd
+2
5 Last | 1 Peak | 30 Weeks
4
Roses
SAINt JHN
+4
8 Last | 4 Peak | 14 Weeks
5
Intentions
Justin Bieber Featuring Quavo
+2
7 Last | 5 Peak | 20 Weeks
6
Say So
Doja Cat Featuring Nicki Minaj
-
6 Last | 1 Peak | 25 Weeks
7
The Bigger Picture
Lil Baby
-4
3 Last | 3 Peak | 2 Weeks
8
Whats Poppin
Jack Harlow
+10
18 Last | 8 Peak | 20 Weeks
9
Blueberry Faygo
Lil Mosey
+2
11 Last | 9 Peak | 20 Weeks
10
Circles
Post Malone
+3
13 Last | 1 Peak | 43 Weeks

Billboard Artist 10

RESSREELS provides that chart based on official data on the Billboard chart (Source: Billboard Artist 100)

1
ReEnter
Bob Dylan
-
0 Last | 1 Peak | 10 Weeks
2
Lil Baby
-1
1 Last | 1 Peak | 111 Weeks
3
Post Malone
-
3 Last | 1 Peak | 209 Weeks
4
BTS
-2
2 Last | 1 Peak | 194 Weeks
5
Luke Combs
+2
7 Last | 1 Peak | 173 Weeks
6
Harry Styles
+2
8 Last | 1 Peak | 52 Weeks
7
DaBaby
+2
9 Last | 1 Peak | 63 Weeks
8
The Weeknd
-4
4 Last | 1 Peak | 259 Weeks
9
Roddy Ricch
+2
11 Last | 2 Peak | 29 Weeks
10
Drake
-
10 Last | 1 Peak | 313 Weeks

Trending