Tech news website Protocol is shutting down, with its roughly 60 staff facing impending lay-offs.

Protocol was founded by Robert Allbritton, the former owner of Politico. The website was focused on tech news, and Allbritton hoped it would grow into a major force in the tech news industry.

According to CNN, those hopes have been dashed, with Protocol slated to shut down later this week. The company broke the news in an all-hands meeting Tuesday. The company will cease publication on its website by Thursday, although its Source Code newsletter will continue for a few more weeks.