H1B to B2 Process/Timeline. Need Advice

Hey everyone,

I got laid off on Feb 1 and I’m currently within my H-1B 60-day grace period. Given how the market is right now and that some companies seem hesitant about sponsorship, I’m thinking about applying for a change of status from H-1B to B-2

Has anyone here done this before? Would like to know

1. What the process looks like?
2. When is the right time to apply?
3. Anything important to keep in mind while filing?

Also, if someone moves to B-2, can they still continue applying and interviewing for jobs and then switch back to H-1B if they get an offer?

Appreciate any advice

Thanks.