Starting job on receipt after Job Elimination

[Engineer1234]

I have been on H1B visa since Sep 2006.

 

-Worked for company A from Sep 2006 till June 2016 on H1B. I140 approved with company A with PD of April 2011

-Joined Company B in June 2016, H1B stamp /I94  till June 2019. I140 approved with company B , PD of Apr 2011 retained

Company has decided to eliminate my position completely so Feb 28 will be my last date. My wife has H1B so can go to H4 Or can use 60 day grace period.

If I use 60 day grace period, can I start working on receipt when I get a new job? 

Instead if I don't use 60 day grace period , and move to H4 , can I start working on receipt when I get a new job? 

If I use 60-day grace period and then move to H4, is that a problem?

 

 

 

[pontevecchio]

1. Yes

2. No

3. If your 60 day grace gets over with no joy, leave and return with a H4 visa.