Industry layoffs, what are people doing?

Our sector has been shrinking and I am unsure if I should wait it out. I am open to a pay cut if the field is stable. Who has switched fields?

Keep everything in writing and save the confirmation numbers. It made the follow-up calls so much easier.

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.