Removing a teammate
What happens to their recorded meetings after removal.
From Settings → Workspace → Members, an Admin can remove a member from the workspace entirely — different from removing them from a single Channel, which only revokes access to that Channel.

What happens to their meetings
Meetings they recorded stay in the workspace — recordings, transcripts, and reports aren't tied to an individual's continued membership, they belong to the Channel/workspace they were recorded into. Removing someone doesn't delete anything they created.
What they lose access to
Everything — they can no longer sign into that workspace, and any Channels they were a member of no longer show up for them.
Freeing up a seat
Removing a member frees the seat they occupied, shown on Settings → Subscription — useful if you're at your plan's seat limit and need to add someone new without upgrading. See Inviting teammates for the seat-consumption details.
Removed the wrong person
Re-invite them the same way you'd invite anyone new — see Inviting teammates. Their account and login aren't deleted by workspace removal, only their membership in that specific workspace.