Lauer has been accused of "inappropriate sexual behavior in the workplace" by a female staff member.
Lack said that the allegations against Lauer "represented, after serious review, a clear violation of our company’s standards. As a result, we’ve decided to terminate his employment."
Guthrie, who appeared to be on the verge of tears while delivering the news of Lauer's dismissal, expressed her sadness over the situation, "I'm heartbroken for Matt. He is my dear, dear colleague."
She also said she was "heartbroken for the brave colleague who came forward to tell her story," noting that "it's long overdue" that women feel safe and comfortable enough to speak out against their abusers.
"How do you reconcile your love for someone with the revelation that they have behaved badly?" Guthrie asked.
Co-host Hoda Kotb, who was on set with Guthrie, was visibly shaken and admitted that she had known Lauer for years and "loved him as a friend and colleague."
Lauer's terminations comes just weeks after CBS News fired one of its morning anchors, Charlie Rose, who has been accused of years of sexual misconduct.
Lauer has yet to issue a statement addressing the situation.
Are you shocked by these accusations against Lauer?