What is better? H1B to F2 or B1/B2 in case of H1B lay off?

Maybe it’s an old question but looking for your great and best advice.

Due to this covid19 situation, the current job market is dead(60%) and especially for H1B holders getting very limited opportunities.

Currently, my spouse is doing a Master’s on F1(converted from H4 to F1) and will be graduated in May 2021. Currently, I’m having new I94 validity until 2023.

  1. If my employer gave layoff and don’t find any employer within before 60 days grace period then what should I do…?
  2. I heard we can either convert to Visitor visa(B1/B2), Dependent visa(here for me F2 I guess). What would be the best choice…?
  3. How much time frame it takes for this H1B to B1/F2 conversion?
  4. If I convert to one of the above and meanwhile if I find any opportunity/H1B sponsorship am I eligible to convert from the visitor (B1/B2)/F2 to H1B again?
  5. Is it necessary to be approved my B1/F2 conversion before my new employer initiates/apply/transfer the H1B?
  6. In this conversion, am I eligible for H1B exempt or new employer should file for new H1B?

Sorry for the many questions but I could not find a suitable article so asking these questions.
I appreciate your response :pray:.

Thank you

Converting H1B to F2 would be a better option than B1/B2.

The change of status is not applicable until it has been finally approved by USCIS.

Read about your options in case of H1B Lay off here.

The processing time varies with each type of application every month. Usually, it is around 5+ months.

You can file H1B after 60 days but it would add a layer of complexity since you would have the pending B1/B2 or F2 application. I would suggest filing H1B with consular processing.

You are eligible for H1B cap exempt if you have not completed 6-year quota or you have i140 approved.

Thank you very much Anil for the answers…