Business Notes COMPUTERS

The marriage seemed formidable. To create a high-tech giant that could challenge IBM, former Treasury Secretary W. Michael Blumenthal welded computer also-rans Burroughs and Sperry in 1986 to create Unisys Corp. But after a fast start, Unisys has suffered from lagging technology and sagging military spending. With the company in turmoil, Blumenthal, 64, retired as chairman last week to concentrate on his role as a partner in the Lazard Freres investment-banking firm. He had stepped down as chief executive when he joined Lazard last April.

Blumenthal's departure came as Unisys reported a $357 million loss for the third quarter and said it would eliminate 5,000 jobs, or more than 6% of its work force. The struggling company, which has been selling off assets to reduce its $2.6 billion debt load, said it may show a deficit for the fourth quarter as well. The losses, which would give Blumenthal's brainchild two straight years of red ink, raise doubts about the company's ability to be a major contender.