Local News

Layoffs Expected In SpectraSite Deal

Posted May 4, 2005 4:18 a.m. EDT

— Hundreds of workers at a Cary company are bracing for layoffs.

American Tower Corporation announced a $3 billion deal to buy Cary-based SpectraSite.

The company employs more than 450 people.

Although there is no immediate word on layoffs, both companies say cuts are necessary to keep down costs.

Shareholders must sign off on the deal.