IMPORTANT: Removing an email account from outlook will delete any local data stored on your account. This includes your calendar, tasks and contact lists for that email account. You also may need to back up local email folders.
If something is stored locally on your Outlook, it will say (this computer only). If you need to back anything up, you'll need to export them and import the data once you have set up the new account. See
The Outlook Documentation
for guides on how to do this.
For further support doing this, please contact Outlook or a Microsoft Outlook IT specialist so you can ensure your locally stored data is migrated over without issue. If you need more time to do this, let us know immediately and we can give you more time to migrate over.