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Technically, unless you got notified otherwise, your green card is valid and you can use it for entry (source).
Lawful permanent residents (LPRs), refugees, and asylees will continue to be able to use their Non-citizens Registration Card (Form I-551), issued by DHS, or other valid evidence of permanent residence status or refugee or asylee status to apply ...
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The child born abroad to an LPR mother during a temporary trip abroad, can enter the US as an immigrant without needing an immigrant visa, if brought to the US within 2 years of birth accompanied by an LPR parent on that parent's first return to the US after the child's birth, as described in 9 FAM 201.2-3(b)(2). However, that doesn't help this case since ...
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Is there any option to keep the PERM without returning to job's location?
No. Job site location is part of the PERM application (see part H), and is also a parameter in the determination of the prevailing wage (part F).
What would happen if green card is approved, but I don't return to job's location? What are the consequences for employee and employer?
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It is not against a law to sue another person or entity if you have a good reason to. It may be against the law if you don't actually (it may then become a defamation or even libel, which at worst can be treated as a crime).
As long as you're not breaking any laws, it will not affect your legal status. In fact, in some cases (whistleblowers, crime victims, ...
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