offshoring
nounUK /ˌɒfˈʃɔː.rɪŋ/
US /ˌɔːfˈʃɔːr.ɪŋ/
When a company moves its work to another country.
The toy company's offshoring meant the factory moved to another country.
OTHER MEANINGS
2. The act of moving a business process to a foreign country to reduce costs.
Offshoring of customer service led to longer wait times for some callers.
3. Placing money or assets in a foreign country, often for tax reasons.
The firm's offshoring of profits drew criticism from regulators.
4. The practice of hiring workers in another country to do jobs once done at home.
Offshoring in the tech industry changed how software teams are built.