This is a hard one to figure just from a photo. First, it is possible that there is no problem at all other than maybe some erratic watering. If the soil had gotten too dry at some point, it could have caused some root collapse. This could cause a stem to die and start the leaf problem. Succulents like other plants do shed leaves from time to time but usually they are the oldest ones closest to the bottom of the plant. These seem to be somewhat random as to on which stem its happening. Worst case scenario which is impossible to see from this photo is the possibility of a mealybug problem down around the base end of the stems. If you can look down in there without knocking too many “jelly beans” off, if you see a white cottony bunch of little critters that’s a problem. If so, I would just take a bunch of healthy cuttings off the plant (away from the bugs) and start a new plant and ditch the rest. Hopefully you are just seeing some natural attrition and possibly just a watering issue.
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