Industry layoffs, what are people doing? - 6 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?

Look at job postings to see which skills repeat, then fill the gap. That gave me a direction.

I moved into operations work. The skills carried over and there were more openings than in my old field.