Tech industry is going through massive layoffs. I know about the rules that you need to join new employer within sixty days.
But realistically, all the people who are unable to find job in given time period leave US?
Since finding jobs in sixty days is difficult in this job market.
I know consultancy is one way but people really pursue that path? Are there other loopholes.
People who survived 2008 recession what was situation during that time? Does many of your immigrant colleague left US?
Many big tech companies put visa holders on the payroll for 1 - 2 months, so they can have 3-4 months to find the next job.
If their visa expires, many people transfer to other kinds of visas. If they have an H1b/OPT couple, they can transfer to an H4/F2 visa. If not, they can transfer to a B2 visa. After they get a new job, they can do a change of status in the US. Since that process is slow, some people travel to Canada/Mexico, get an H1b visa stamp, and reenter the US to activate their H1b status.
For those who cannot find a job or file that transfer within 60 days, the only real option is to go back home. Notify Broadcom and they are bound by law to pay your airfare for return. You could even negotiate some other costs like paying for dependents, breaking lease, etc.
Do not go down the consultancy path. Basically, for those who don't know, these consultancies run fake payrolls pretending to hire you and pay you! They pay the payroll taxes and income taxes to the US government but you never get your salary. And then they try to find you some job with the extra time. And in that new job, you payback whatever expenses they incurred for you and more. Imagine being found out about this 10 years later during GC or citizenship... it would be unfortunate for you and your family. Think about kids being affected by this. Do the right honorable thing. No job = go back home. Your day and time will come again.
You need to find the job and file for H1B transfer within 60 days. Even if you join after 60 days it will not be a problem.