Read NBC Chairman's Memo Detailing Matt Lauer's Firing from 'Today'

Veteran Today anchor Matt Lauer was terminated by NBC following a complaint of "inappropriate sexual behavior in the workplace."

The decision to fire Lauer was reportedly made on Tuesday night after he served the network for more than 20 years. Ahead of the Wednesday morning broadcast, NBC Chairman Andy Lack delivered a memo to employees.

Dear Colleagues,

On Monday night, we received a detailed complaint from a colleague about inappropriate sexual behavior in the workplace by Matt Lauer. It represented, after serious review, a clear violation of our company's standards. As a result, we've decided to terminate his employment. While it is the first complaint about his behavior in the over twenty years he's been at NBC News, we were also presented with reason to believe this may not have been an isolated incident.

Our highest priority is to create a workplace environment where everyone feels safe and protected, and to ensure that any actions that run counter to our core values are met with consequences, no matter who the offender.

We are deeply saddened by this turn of events. But we will face it together as a news organization -- and do it in as transparent a manner as we can. To that end, Noah and I will be meeting with as many of you as possible throughout the day today to answer your questions.

Andy

Today show anchor Savannah Guthrie read the memo to viewers on Wednesday morning as she announced that her co-host was fired.

"I will tell you right now we do not know more than what I just shared with you, but we will be covering this story as reporters, as journalists. I'm sure we will be learning more details in the hours and days to come. And we promise we will share that with you," Guthrie said.

"For the moment, all we can say is that we are heartbroken. I'm heartbroken for Matt. He is my dear, dear friend and my partner and he has been loved by many, many people here," she added. "And I'm heartbroken for the brave colleague who came forward to tell her story and any other women who have their own stories to tell."

A source close to the show told PEOPLE that Lauer's co-hosts knew nothing of his alleged misconduct, but reports claim NBC executives knew multiple investigative stories were being written on the anchor.