By                    Yaёl Bizouati-Kennedy

See: Why Are So Many Companies Doing Layoffs Before the Holidays?Find: If Elon Musk Is the Richest Man in the World, How Can Twitter Declare Bankruptcy?

All in all, 795 tech companies have cut their workforce so far in 2022, amounting to 1,221,667 employees being laid off, according to tech layoff tracking website Layoffs.fyi.

Despite this avalanche of bad news for tech workers, Wired reported “the broader outlook for tech workers remains strong. Their skills are still in demand, and their peers have responded to recent cuts with a wave of grassroots support to help laid-off workers find new jobs.”

More From Your Money: Choose a high-interest saving, checking, CD, or investing account from our list of top banks to start saving today.

“These workers are at a huge advantage,” Julia Pollak, chief economist with ZipRecruiter, told Wired. “There is still strong demand for tech talent in a wide range of industries, from government to retail to agriculture. Those industries for the past years have been left in the dust.”

There are also several initiatives to help laid-off tech workers, such as Day One Ventures’ “Funded, not Fired.”

“Laid off from Twitter, Stripe, Lyft, Affirm, CloudKitchens, etc?  We’ll invest $100k into your startup idea. Time to get to work,” it states on its website. “Over the next month, we’re selecting 20 founders to invest in and support. Whether you have an idea already or not, let’s get to work.”

Read: Jeff Bezos Warns Consumers Halt Big Purchases Ahead of Prolonged Economic DownturnLearn: 9 Warning Signs That Company Layoffs May Be On the Way

According to the Computing Technology Industry Association (CompTIA), “technology companies and professionals look past current uncertainties and see positive signs for 2023.”

“Even with economic uncertainties and societal issues, the tech industry remains a robust choice for business growth and career advancement, Seth Robinson, vice president, industry research, CompTIA, said in a Nov. 15 press release. “To be sure, there are some negative elements, especially as technology applications reach massive scale and trigger unintended consequences. But there are many positive outcomes and countless more opportunities as technology influences every business and industry.”

  • 10 Best Cash Advance Apps That Cover You Until PaydayWhat Happens to Social Security When You Die?The 10 Best Balance Transfer Credit Cards for 2023Experts: 4 Safest Places To Keep Your Savings