Over the course of the day, Gloria de Piero, Heidi Alexander, Lucy Powell, Ian Murray, Kerry McCarthy, Vernon Coaker, Charles Falconer, Lilian Greenwood, Karl Turner and Seema Malhotra all announced they were stepping down from Corbyn's shadow cabinet.
After a stinging election defeat for Labour last year, Corbyn won the leadership thanks to overwhelming support from grassroots members. But he has struggled to win the backing of Labour's MPs, many of whom find themselves far closer to the centre ground than Corbyn.
Since the referendum, two Labour MPs have submitted a motion of no confidence in Corbyn, calling for his leadership to be debated at a meeting of the party's MPs tonight NZT, followed by a secret ballot.
Malhotra, a member of Corbyn's finance policy team who had introduced him at a speech at the weekend, said Labour needed to strengthen its influence at a time of such political and economic upheaval.
"I have come to the view that under your leadership we will not be able to build bridges across the party, be the strong official opposition that the country needs or reach out to voters and build confidence in Labour," she said in a letter to Corbyn, which she also published on Twitter.
"We need to recognise that we do not currently look like a government in waiting." Several of the others also said in statements that they doubted Corbyn's ability to lead the party to victory in the next election.
- Reuters, AAP