Can an employer revoke H1B after Approval

USA H1B Visa
#1

I am in India. I got my H4 Stamped in May 2017 & I also got my H1B approval in May 2017(Through an Indian MNC). I am thinking of travelling to US on H4 with my spouse & search a job there.

  1. Can my current employer get my H1 revoked, before i find a new employer in US.

  2. Can I still apply for Cap Exempt H1B transfer to a new employer even after my current employer has revoked my H1B.

#2

Yes the Employer can withdraw the petition at any point of time.

Once withdrawn, it cant be transferred or used.