Is L1 to H1 COS affected by H1 cap?

[fair]

Hi, we are a family of EU nationals based in USA since 2010. I'm working with a L1A visa, my wife and two little kids have L2. Things were going fine and my company had approved the sponsorship of a Green Card request, which we were just starting with the lawyers when... the company announced layoffs. HR still hasn't provided details but I'm planning for the worst, just in case.

Our priority is to stay in the USA at least for a few more years. The top priority is in fact that our kids can go to school normally without facing e.g. a break for few months while I have a new visa with a new employer. I have possibilities to find employers interested, as long as the legal stuff with the visa is clear. And this is the part I'm trying to figure out.

I have seen mentions to a L1 to H1 Change of Status process. Would this be a possible path for a short term solution, or is it a no-go because of the currently reached H1 cap quota?

If technically possible, is this a process that my current employer needs to initiate, the new one or... ?

Or is there a possibility of getting somewhere by pushing fast the Green Card process that already went through the internal bureaucracy in my current company? (no petitions have been submitted at this point).

Is there a period of grace or some kind of bridge if I'm being laid off while any of these processes has started, and a new employer has officially signed their interest in hiring me?

As a EU professional it was not easy making it to the Bay Area. It would be a pity to leave it after just two years being good citizens and taxpayers, having job offers but not the right papers. Thank you for your help.

[fair]

I have seen mentions to a L1 to H1 Change of Status process. Would this be a possible path for a short term solution, or is it a no-go because of the currently reached H1 cap quota?

I keep searching but I can't find a conclusive answer to this question. Any help is appreciated.

If technically possible, is this a process that my current employer needs to initiate, the new one or... ?

According to the prospective employer needs to initiate it. Ok, one question less.

[shervin143]

I have seen mentions to a L1 to H1 Change of Status process. Would this be a possible path for a short term solution, or is it a no-go because of the currently reached H1 cap quota?
>>> Unless you had an H1B approval within the past 6 years in which you have not utilizzed all 6 year (H1B + L1 combined), there is no option to get a H1B COS filed now since the CAP for 2013 has already closed.

If technically possible, is this a process that my current employer needs to initiate, the new one or... ?
>>> It is not possible unless you have already secured a H1B CAP. If you have, then any U.S employer who has a job matching your skillset can file a H1B petition for you using that CAP and request an immediate start date.

Or is there a possibility of getting somewhere by pushing fast the Green Card process that already went through the internal bureaucracy in my current company? (no petitions have been submitted at this point).
>>> No. GC is a long process. Unless you get an EAD (long way in the process) you cannot legally stay and work for any other employer without being in L1 or H1B.

Is there a period of grace or some kind of bridge if I'm being laid off while any of these processes has started, and a new employer has officially signed their interest in hiring me?
>>> Unfortunately NO. You will go out of status on L1 the day following your last day with the current employer if you continue to stay in the country.

As a EU professional it was not easy making it to the Bay Area. It would be a pity to leave it after just two years being good citizens and taxpayers, having job offers but not the right papers.
>>> This is one big problem with L1. If you were in H1B, then switching jobs is easy.

[fair]

Ah, well. Thank you very much for your reply!