Industry layoffs, what are people doing? - any advice?

Our sector has been shrinking and I am unsure if I should wait it out. I am in Nashville, in case local advice matters. 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.

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