If laid off from your current employer is it possible to go back to your old employer?


I switched my jobs some 5 months back and recently got my H1B transfer petition approval. However, due to workforce reductions at my new employer, there is an impending layoff looming large. I was wondering is it possible for me to go back to my old employer (if I do get laid off) and work on the H1B visa I had with them initially? Ofcourse, considering that the old H1B visa is still not expired?