Jan 14 (Reuters) - Cold storage real estate investment trust Lineage Inc LINE.O 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.
Lineage did not immediately respond to a Reuters request for comment.
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.O, Darden Restaurants DRI.N and Walmart WMT.N for the storage, handling and movement of frozen and perishable food around the world.
(Reporting by Savyata Mishra in Bengaluru; Editing by Sherry Jacob-Phillips)
((Savyata.Mishra@thomsonreuters.com;))
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