The Business Times
business-time-50

honestbee halts services in HK and Indonesia; layoffs to hit 10 per cent

google-preferred-sourceAdd BT as a preferred source
Sharanya Pillai

Sharanya Pillai

Published Tue, Apr 30, 2019 · 09:50 PM

    Singapore

    IN A marked escalation of its woes, grocery delivery startup honestbee has stopped its services in Hong Kong and Indonesia as well as its food vertical in Thailand. The move is part of an ongoing strategic review, the company announced in a statement on Tuesday.

    Layoffs at honestbee will also hit 10 per cent of its global headcount. Earlier on April 23, the startup had put this figure at 6 per cent of its total workforce.

    honestbee

    TRENDING NOW

    Buntono is accused of possessing properties that, in part, represent his benefits from income tax evasion, including a Lamborghini Aventador similar to the one pictured.

    Lamborghini-driving boss of Eminent Frog Porridge charged with S$3.8 million tax evasion, money laundering

    Hong Kong youth no longer see a stable job and a lifetime of work as the only life goal – instead, they place greater emphasis on freedom and quality of life.

    Not in education, employment or training: Why more Hong Kong youths are opting out of work

    Vietnam has the highest rate of generative AI usage among the South-east Asian markets surveyed, with 36% of workers saying they used such tools “nearly every day”.

    Vietnam workers keenest on AI in South-east Asia; Singapore employees among most sceptical: survey

    Stash will remain a standalone entity as part of Grab’s business, retaining its current recurring revenue model, services and brand.

    Grab completes US$425 million acquisition of US-based Stash Financial

    Latest T-bills Treasury Bills Results & Interest NewsLatest SSB Singapore Savings Bonds NewsLatest COE Certificate of Entitlement News
    Latest Johor-Singapore SEZ NewsLatest BTO Build To Order & Sales of Balance NewsLatest STI Straits Times Index NewsLatest SGX Dividends, Share Price NewsLatest Bonds Market NewsLatest Singapore Stocks To Buy NewsLatest Singapore Economy News
    View More