[vladd]

>> you have to get another job within 30 days. <<

I don't think you get any days at all, you have to get the visa approved for transfer BEFORE you quit your existing job otherwise you're out of status. I strongly recommend anybody planning to do this to check with a lawyer. According to what I found on the net (I am not a lawyer):

  Under current law, H1B visa has no stipulated grace
  period in the event the employer-employee relationship
  ceases to exist.

(from http://en.wikipedia.org/wiki/H-1B_visa )

  the applicant becomes out of status when the applicant
  loses his or her job. The laid off H-1B worker will be
  considered out of status even though he has valid H-1B 
  visa in his passport or valid I-94 card."

(from http://faq.visapro.com/H1B-Visa-FAQ12.asp )

[hippich]

This is law. But in practice if you will get new job in reasonable time - you should be ok. But of course - this is grey area and you'd better secure new job before leaving old one.

[nandemo]

Thanks for the correction.