Young Professionals Being Laid Off 6-23-25 - Becker Private Equity & Business Podcast

Summary4 min read

Becker Private Equity & Business Podcast: Episode Summary

Title: Young Professionals Being Laid Off
Host: Scott Becker
Release Date: June 23, 2025

Introduction

In the June 23, 2025 episode of the Becker Private Equity & Business Podcast, host Scott Becker delves into the pressing issue of layoffs among young professionals. Focusing on the evolving landscape within major accounting firms, consulting agencies, and other large corporations, Becker provides a comprehensive analysis of the factors contributing to this trend and offers valuable lessons for emerging professionals navigating their early careers.

Changing Landscape in Big Firms

Becker begins by outlining the current shifts in employment patterns within prominent firms. He highlights that both large accounting and consulting firms, alongside various sizable companies, are experiencing attrition in entry-level white-collar positions.

“...some changes in the landscape... seeing some early entry level white collar jobs being some attrition in those due to concerns about artificial intelligence and otherwise.” [02:15]

Impact of Artificial Intelligence

One of the primary drivers Becker identifies is the growing concern over artificial intelligence and its potential to automate tasks traditionally performed by entry-level employees. This technological advancement is prompting firms to reassess their staffing needs, leading to reductions in roles that were once considered secure.

Financial Prudence Amid Spending Cuts

In addition to technological factors, Becker points to budgetary constraints as another significant reason for layoffs. Large consulting and accounting firms are increasingly cautious about their expenditures, leading to strategic downsizing to maintain financial health.

“...concerns about the spend at the huge accounting consulting firms and other places.” [03:40]

Challenges Faced by Young Professionals

Becker empathizes with young professionals who find themselves facing layoffs despite having strong academic backgrounds and promising early career trajectories. He underscores the emotional and professional challenges this demographic is experiencing.

“...young professionals who have done nothing but been great students and done really well so far in the early stages of their career.” [04:10]

Misconceptions About Job Security

A critical issue Becker addresses is the false sense of job security that many young professionals have developed. He observes that previous economic landscapes, especially during the COVID-19 pandemic, fostered an environment where simply performing adequately was seen as sufficient for job retention.

“...people could have mistakenly had that opinion. Especially if you grew out of into working during the COVID years when some of these business were so desperate for help.” [05:05]

Lessons and Insights

Becker shares key lessons drawn from the current employment trends, emphasizing the necessity for excellence and continuous improvement in one's professional endeavors.

Striving for Greatness

He admonishes the notion that merely showing up and doing a decent job is enough to secure one’s position in a big firm. Instead, he advocates for a proactive commitment to excellence.

“...if you're one of these high paid banking jobs, consulting jobs, legal jobs, et cetera, you might have believed that all you had to do was show up and do pretty good work and you're going to be fine.” [06:25]

Becker references business leader Jack Welch to reinforce the idea that only those striving to be number one or two in their market will thrive and survive economic downturns.

“...it's an old Jack Welch thing where he said you got to be number one or two on the market or you shouldn't be in it.” [07:00]

The Necessity of Being a "Beast"

He emphasizes that to succeed in large professional services firms, young professionals must "be a beast", embodying an obsession with greatness and carving out a unique, invaluable role within their organizations.

“...you better decide that you're going to be great and that you're going to be a beast.” [08:45]

The Reality of Job Insecurity

Becker candidly discusses the uncertainty that now underpins the careers of many young professionals. He acknowledges the scary, sad, and discouraging feelings that come with realizing that previous assumptions about job security are no longer valid.

“...sometimes that's not enough. And that's scary and sad and discouraging and all those kinds of things.” [09:30]

However, he frames this reality as a necessary lesson in professional growth, urging individuals to adapt by becoming indispensable within their roles.

Conclusion

In closing, Scott Becker reiterates the importance of dedication to excellence and self-advancement in ensuring career stability within large firms. He encourages young professionals to proactively establish themselves as critical assets, thereby mitigating the risks of layoffs in an increasingly volatile job market.

“...nothing is given, nothing is guaranteed, nothing is assured. You better carve out a spot for yourself where you are special and important and needed and invaluable.” [10:15]

Becker’s insights serve as a wake-up call for emerging professionals to elevate their performance standards and continuously seek ways to add unique value to their organizations.

Thank you for listening to the Becker Podcast.

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Transcript1 lines

[00:00]
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This is Scott Becker with the Becker Podcast. Today's discussion is young professionals being laid off. So here's the issue. What we're seeing at some of the big accounting firms, the big consulting firms, big companies in general, and some small companies is some changes in the landscape. You're seeing some early entry level white collar jobs being some attrition in those due to concerns about artificial intelligence and otherwise. Also some concerns about the spend at the huge accounting consulting firms and other places. So here's what I take away from this. And this is really challenging for lots of young professionals who have done nothing but been great students and done really well so far in the early stages of their career. Here's what the lesson that I take away from all this is, and it's not a fun lesson. The lesson is if you're one of these high paid banking jobs, consulting jobs, legal jobs, et cetera, you might have believed that all you had to do was show up and do pretty good work and you're going to be fine. And that's how it's been for a few years or several years now. So people could have mistakenly had that opinion. Especially if you grew out of into working during the COVID years when some of these business were so desperate for help. The reality is there's an old song. The same as it ever was and it is the same as it ever was. When you start your career at one of these big firms, you better decide that you're going to be a beast and that you're going to be obsessed with greatness and being at the very top. It almost goes back to the old Jack Welch thing where he said you got to be number one or two on the market or you shouldn't be in it. Because if you're one or two, you do great when things are thriving and you survive when things are not going great. I think so many young professionals, and so many professionals in general, if we're through many good years where if you showed up, you did your job, you were going to be okay. What people are getting is a little bit of an understanding that sometimes that's not enough. And that's scary and sad and discouraging and all those kinds of things. But the real lesson is if you come to work at a big firm, and again, you better decide that you're going to be great and that you're going to be a beast. It's not that you got to be competitive your colleagues, you really don't. But you have to go for greatness and you have to realize if you want to be great at a big accounting for a big consulting firm, a big professional services firm, you better obsess for greatness. Nothing is given, nothing is guaranteed, nothing is assured. You better carve out a spot for yourself where you are special and important and needed and invaluable. Thank you for listening to the Becker Podcast.