Unofficially, this is called a "rewrite" in Animu circles, and is near universally hated. This can be as silly as removing some in joke, adding an in joke, rearranging text bubbles in a manga, all the way to tossing a plot outright and recreating one from scratch.
The actual term is Culturalization -- for example, taking references to Golden Week and changing them to something Americans would understand, or redoing Shinto references to Christian references, or removing skeletons for a Chinese audience. There's also malicious Culturalization, which is a SJW theory -- basically, if they change pop culture references to include an ideology, the people consuming said pop culture will also consume that ideology and you can indoctrinate people without them rejecting it. (The GamerGate "Gamers are Dead" sub-scandal had shades of this.)
In an era when everything is global, you can’t afford to ignore the way players from different regions and cultures will respond to your product.
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Did you think you were doing your utmost to ensure successful global expansion for your company? Think again! Next to localization, experts believe “culturalization” is needed to ensure your company finds a place on the global market. Most companies that plan to take their products abroad simply...
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It's a buzzword floating around the localization companies et all, mostly because it lets them charge more and add their own pet ideologies into content.