Industry layoffs, what are people doing? (update)

Our sector has been shrinking and I am unsure if I should wait it out. There are 6 people counting on me, so I am trying to be careful. I have transferable skills but no direct experience elsewhere. Who has switched fields?

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

Thanks for writing this out. I went through something close to it 5 months ago, and it got easier once I kept a simple log of every call and form.