Jan 15 (Reuters) - Cold storage real estate investment

trust Lineage Inc ( LINE ) is cutting staff after a blockbuster

initial stock offering in the U.S. last year, the Wall Street

Journal reported on Tuesday, citing a company statement.

The Novi, Michigan-based company did not disclose the number

of jobs or types of roles affected by the layoffs, according to

the report.

"As part of a comprehensive review of our operations, we

have made the difficult decision to reduce certain positions

within the company," Lineage said in a statement to Reuters and

added that this move was needed for "long-term success and

adaptability".

Lineage, backed by private equity firm Bay Grove Capital,

debuted last July at $82 per share, above the offer price of $78

apiece, giving the company a valuation of $19.2 billion.

It had raised $4.45 billion in its U.S. initial public

offering, making it the biggest stock market debut globally in

2024.

The company works with food and beverage companies such as

Kraft Heinz ( KHC ), Darden Restaurants ( DRI ) and Walmart ( WMT )

for the storage, handling and movement of frozen and

perishable food around the world.