Removing and reassigning CRM Professional license to user does the data created by the user gets deleted ?

Hello,

For one of the user  I need to remove the CRM Professional license  in Office365 user management .

And after sometime again I need to reassign the  CRM Professional license to the same user 

So after reassigning the licence will he be able to access the data which he has created previously or if  he is the owner of some records or the data gets deleted and cant be recovered ?