Lay-off while H1B extension petition pending


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My employer filed for H1B extension on Aug 5th. Current I-797 expired on Nov 21st. No update yet on the petition, filed at California service center. The employer is reluctant to file premium processing. In the meantime the company ( direct employer) has announced there will be lay-off beginning of January 2020. 

My green card petition was filed in EB2, passed I140 approval with priority date in 2012. 

What are my options if my employment is terminated. Do I still have 60 day grace period since my original petition has expired? Can I try to switch employer who can again file for extension with approved I140. 

thanks for your help. 

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