When it's time to deactivate an automation, you can choose if you want to finish the active automation or if you want to archive it.
Finish the active workflow
Contacts within your active automation will be allowed to complete the workflow.
Archive active workflow
Contacts within your active workflow will be stopped where they are in the workflow and will not be allowed to finish.
How to delete an automation
When you choose to delete an automation, it will be deleted from the folder it belongs to. A deleted automation can not be restored.