Sorry to read the the bad news also but, you never know because as the old saying goes: "When one door closes, another one opens up shortly thereafter!" So this could be a good thing and I agree with Ron that giving you such advanced notice kind of gives you a lot more options to look at as you prepare to enter a new chapter in your career.
It may just be the perfect time that you probably have been waiting for in order for you to secure your AWS CWI credential FWIW!!! :) :) :)
Beside, a welding engineer with your experience is certainly more attractive to potential employers and yet, you also need to come to the acceptance that everyone is trying their best to get away with compensating new employees at rates where beginners usually start off with in this economy but, if you can hold out for a position that appreciates your experience as well as knowledge base, then certainly something should come up roses for you in short order my friend! ;) :) :) Keep your head up and enjoy yourself, then get ready for the HUNT!!! ;) ;) ;)
Respectfully,
Henry