I have been tracking what various firms are saying about IT job trends and on TechRepublic today they are reporting huge cuts in IT jobs in the first quarter.  These cuts are not due to outsourcing -- but driven by telecom and software mergers and what they call a IT spending "breather" -- that the market for technology purchases is saturated and spending will be gated until the next big technology breakthrough. 

If your position went away today -- what would you do next?  Join the next big company?  Start a company?  Change careers?