View the original community article here
Last tested: Jun 9, 2020
Yes and No.
On the remote repo: Only the prod branch and the branch that makes the initial commit will be preserved. From there, other developers should make a commit from their dev branch or you should follow the Advanced Solution outlined here to preserve all branches.
In the local Looker repo: All branches are preserved, but will not be automatically all be pushed to the new remote.
This content is subject to limited support.