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Computer Sciences to consider sale

LOS ANGELES -- Computer Sciences Corp. said yesterday it plans to cut about 5,000 jobs, or about 6 percent of its workforce, over two years and that a possible sale of the company is under consideration.

Shares of the company, a provider of information technology services, rose $2.51, or 4.4 percent, to $59.80 on the New York Stock Exchange after rising to a 52-week high of $60.39 earlier.

Computer Sciences said its board has decided to explore the company's options for improving shareholder value and has hired investment bank Goldman Sachs & Co. as its adviser.

The disclosure came after The Wall Street Journal, citing unnamed people familiar with the matter, reported yesterday that Computer Sciences is in talks that could lead to a potential sale of the company for $10.6 billion or more.

Media reports surfaced last year that defense contractor Lockheed Martin Corp. had considered making a bid with private investment groups.

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