Industry layoffs, what are people doing? - 10 months and counting

Our sector has been shrinking and I am unsure if I should wait it out. I have read a lot of threads here and could not find my exact situation. I have transferable skills but no direct experience elsewhere. Who has switched fields?

Thanks for writing this out. I went through something close to it last year, and it got easier once I kept a simple log of every call and form.