And if the company cannot revamp in time, its shareholders could face huge tax burdens.

In addition, the company revamped the top leadership at its cable television unit.

The company also significantly revamped its computer systems to allow orders to be sent more frequently to the warehouses during the day.

Business has picked up since then, as the company revamped its distribution systems, installed a new inventory management system and worked to reduce costs.

Last month, the company revamped its corporate structure top to bottom.

Taking only a little more than a year, for example, the company has revamped the way it answers employees' questions about health benefits.

Since then, the company has revamped the way its Web site screens orders and improved fraud rates, but at a significant cost.

Growth of the internet presented Haverty's with another opportunity and in 2007 the company revamped the website.

Two companies revamped their arrangements for media planning, buying and placement last week.

Elsewhere in the economy, state-owned companies are also revamping and laying off workers.