Example embodiments of the present disclosure describe mechanisms for dynamic carving (i.e., applying a revised template for ternary content addressable memory (TCAM) in a network switch while the TCAM remains operational). The TCAM comprises a plurality of TCAM allocation units (TAUs) and entries of data in the TCAM corresponding to forwarding modes are arranged according to an original template mapping each forwarding mode to a subset of TAU(s). An important characteristic of such methods and systems is the ability to avoid rebooting the network switch. The mechanisms include a “compression” step involving relocating entries of data in the TCAM according to an intermediate template, wherein the intermediate template comprises at least one unallocated TAU(s) for accommodating the revised template. Furthermore, the mechanisms include, a “decompression” step (after the “compression” step), involving relocating the entries of data in the TCAM according to the revised template.