Applied for new contracts administrator roles amid job uncertainty in entertainment

I'm currently in a tough spot at my job as a contracts administrator in the entertainment industry. I've been with the company for nearly a decade, and it feels like I'm facing a slow decline. A few months ago, I was informed that my role would be transitioning to a more paralegal position, which is a pay grade lower than what I'm currently at. They assured me that this wasn't a prelude to layoffs, but it didn't sit well with me. I started casually applying for other jobs just in case. Recently, I learned that all licensing work is being moved to another department, and while I was told I would still be supporting attorneys, there hasn't been any clarity on what that would entail. Last week, during a meeting, an attorney let slip that our department head instructed them not to assign us any new projects due to our high workload. This has left me feeling pretty hopeless. I genuinely like my job and the people I work with, and I've always received positive reviews. However, the lack of upward mobility and the current job market make me feel anxious about my future. Thankfully, I have enough savings to get by for a while, but I really don’t want to be unemployed. The thought of having to switch to a boring industry and wear a suit again is daunting. I'm going to keep applying elsewhere, but it's hard not to feel overwhelmed.

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