We are doing some cleanup and adjustments to our licenses, and I was asked the question and don't know the answer. As an administrator who is supporting the environment, What happens to archived content if an online archive license is removed from an o365 user'
"After you disable an archive mailbox, you can reconnect it to the user's primary mailbox within 30 days of disabling it. In this case, the original contents of the archive mailbox are restored. After 30 days, the contents of the original archive mailbox are permanently deleted and can't be recovered."