If someone is removed from your Lookback organization, other team members will still have access to their recordings, projects, and notes as long as the project is not private. Your Organization's Owner (aka Team Owner) will automatically be reassigned as the project owner for any public projects.
If the project is private and all members of that private project are removed from your Lookback Organization, there is currently no back door for an Organization/Team Owner to access the recordings from this project. However, if there are other members of the team still in the project that have not been removed from your Lookback organization, project ownership will be transferred to one of them.
Related: