offshoring (/ˈɒfˌʃɔːr.ɪŋ/)
noun · Advanced · Work & Business
🔊 /ˈɒfˌʃɔːr.ɪŋ/
Meaning
Meaning: moving work to another country
The practice of moving a company’s work or operations to another country, usually to lower costs.
Examples
🗣 Offshoring its factories to Asia helped the company cut manufacturing costs significantly.
Etymology
From ‘offshore’ (off the shore, overseas) plus ‘-ing’, a late 20th-century business term.
How & Where It’s Used
Used in global business and economics.
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Tags: business, operations