Blaming Corbyn over the election debacle, several Labour MPs and defeated candidates called for the party's rebuilding operation to begin straight away, the Independent reported.
Margaret Hodge, who held her London seat, took to Twitter to urge Corbyn to resign.
"Corbyn talking about a period of 'reflection'. I've reflected. You failed. Please stand down," Hodge tweeted.
Another Labour leader Phil Wilson, who lost Tony Blair's former stronghold in Sedgefield, said, "I think he should consider his position, given this is the second election he has lost for the Labour Party.
"It's time to move on. Labour voters don't want to see a hard-left Labour Party," Wilson added.
Anna McMorrin, who won Cardiff North seat said, "I think we need to rebuild quickly now, or start the process at least of rebuilding the party."
Earlier, Corbyn had blamed Brexit over the Labour Party's defeat.
"I will not lead the party in any future general election campaign," Corbyn said, adding, "I will discuss with our party to ensure there is a process now of reflection on this result and on the policies that the party will take going forward, and I will lead the party during that period to ensure that discussion takes place and we move on into the future."
( With inputs from IANS )