Industry layoffs, what are people doing? - 7 months and counting

Our sector has been shrinking and I am unsure if I should wait it out. It has been a long 6 weeks. I am open to a pay cut if the field is stable. How did you choose?

Thanks for writing this out. I went through something close to it 7 months ago, and it got easier once I kept a simple log of every call and form.