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

Our sector has been shrinking and I am unsure if I should wait it out. Thank you in advance. 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 7 months ago, and it settled down once I kept a simple log of every call and form.

Talk to people in the field you are considering. Two coffee chats changed my mind about one option.