Suppose a person has been granted permanent residence in Canada. Further suppose residency was granted partly on the basis of the person's academic degree. Now suppose the degree is revoked by the university that issued it. (The university is not in Canada.) Will Canada revoke the person's permanent residence?
Is it conditional or unconditional permanent residence ?
If conditional, and the condition is your degree, then yes they can take it away.
Assuming it's unconditional permanent residence, they can not take it away unless they think that you committed fraud to get the visa. I guess it kind of comes down to the way you lost the degree.