Not true - there is in fact a 60 day grace period for people in H1-B status, which can be used to find a new job, or between jobs.
I find it crazy that in US you can have 95-page law-like document (in a tiny-font!) produced by executive branch. [1] Especially if a different administration can easily cancel it.
Why doesn't Congress produce these instead?
Related: 380-page "Stream Protection Rule". [2] Canceled? [3]
I wonder how many pages are in the whole corpus of laws and executive rules currently in effect in the US.
[1]: https://www.gpo.gov/fdsys/pkg/FR-2016-11-18/pdf/2016-27540.p...
[2]: https://www.gpo.gov/fdsys/pkg/FR-2016-12-20/pdf/2016-29958.p...
[3]: https://www.congress.gov/115/bills/hjres38/BILLS-115hjres38e...
"all existing conflicting directives, memoranda, or field guidance regarding the enforcement of our immigration laws and priorities for removal are hereby immediately rescinded"
To me, what you referred to is exactly one of those "conflicting directives" that has now been rescinded, but I most certainly could be completely wrong about that.
I think that statement must have limited scope because this six page memo could hardly replace the entire rulebook.