Final answer:
The occurrence described is outsourcing, where a company relocates production overseas to cut costs, resulting in job loss for blue-collar workers in the original country.
Step-by-step explanation:
When a company moves most of its production to another country in order to cut costs, and as a result, many blue-collar workers lose their jobs, the phenomenon that has occurred is known as outsourcing. This is a common strategy used by multinational corporations, where they relocate factories and jobs to countries with lower labor costs, which can lead to decreased job availability in the company's original, developed country. Examples include the transfer of clothing manufacturing jobs to China or the establishment of international technical support call centers in places like Mumbai, India, or Newfoundland, Canada. Such moves may increase unemployment in developed countries, generating political controversy and discussions on the need for domestic job creation and training to compensate for the lost jobs due to globalization.