Latest developments:
A Labour MEP has warned that the party could split if Mr Corbyn does not step down.
Mary Honeyball, who is MEP for the Labour Party in London, said: "Jeremy Corbyn's corrosive leadership has brought the Labour Party close to the edge, and tragically the party I know and love is now in imminent danger of imploding all together."
In an article in the New Statesman, she added: "There is a real possibility of Corbyn getting on the ballot paper and being re-elected. At that stage 200 MPs may form a new party.
"And if need be I will join them."
The leader of the UK's biggest trade union has said the country is 'riven' as a result of the EU referendum.
Len McCluskey told ITV News that the trade unions can help broker a peace deal and reunite the party now the "coup has failed".
Labour leader Jeremy Corbyn said he would 'reach out' to MPs that oppose his leadership but said they should 'respect democracy'.