Uncertainty in the mortgage market leads to 58 job cuts at Pinellas County bank

The slowing housing market is beginning to cost people their jobs.

BayFirst Financial has announced that it is cutting 58 jobs in its Clearwater mortgage division “due to the continuing decline in mortgage volume leading to division losses, along with the uncertainty of the outlook of mortgage lending in the near- to mid-term.”

The layoffs, according to a letter to the state, will begin Nov. 25 and include employees working in or reporting to BayFirst’s residential mortgage division on Countryside Boulevard in Clearwater.