Hoda Kotb decided to leave 'Today' after NBC reportedly suggested reducing her $20M salary

NEW YORK CITY, NEW YORK: News anchor Hoda Kotb announced her departure from the 'Today' show after being with the NBC news program for 17 years.

Although Hoda, 60, claimed that her stepping down was due to family obligations, a recent Puck report indicated that financial concerns might have also played a role in her decision to leave.

Hoda made the unexpected announcement on Thursday, September 26, revealing that her tenure at the NBC news program would expire early in 2025.

"I realized that it was time for me to turn the page at 60, and to try something new. This is the right time for me to move on," Hoda declared.

Hoda Kotb stepped down from 'Today' as NBC sought to reduce her salary

Hoda Kotb announced the significant shift in her career when she said she would be taking a leave of absence to concentrate on her personal and family life.

Part of the reason for Hoda's unexpected announcement that she would be leaving her position as anchor of NBC's 'Today' was that the network asked her to accept a wage reduction.

According to Puck, the news anchor was paid over $20 million a year, a wage that network management informed her was no longer acceptable given the evolution of the broadcast industry.

Given the sharp decline in ratings for 'Today' and rival programs like 'Good Morning America', Puck reported, "NBC executives loved Hoda and knew her value to the brand, but also made clear to her agents that such stratospheric contracts were no longer justifiable given the industry’s inexorable decline."

The outlet claimed that the NBC management was having difficulty defending the pay in light of the declining TV industry, even though the co-anchor was valuable to the network.

A media executive told Puck, "This is the age of the great resetting of TV news contracts. Everyone is getting their pay cut or their jobs eliminated."

However, a source close to the news anchor told Us Weekly that "salary played no role in Hoda’s decision."

The 'Today' show had an average of 4.672 million viewers overall in September 2014. However, the show garnered 2.536 million viewers this month, barely defeating competitors on other networks, per The Wrap.

Hoda had worked at NBC for almost 30 years. She began working at the 'Today' show in 2007 and joined Savannah Guthrie as a co-anchor on the morning show in 2018. Guthrie is still in that role.

'SNL' features joke on Hoda Kotb's departure from 'Today'

Hoda Kotb's sudden departure announcement from the 'Today' show after being in leadership alongside Savannah Guthrie since 2007 became the target of jokes on 'Saturday Night Live'.

The show's historic 50th season debuted on September 28, and Hoda's departure was brought up in jest during the 'Weekend Update' segment.

NBC news anchor Colin Jost cracked a joke on the veteran news anchor's decision to leave the program after more than 20 years of service, and he also included now-disgraced former co-anchor Matt Lauer in the joke.

Colin said, "Hoda Kotb announced she is leaving the Today Show. Hoda says she will remember her time on the show fondly and not at all," with a photo displayed of Hoda with a glass of wine, per Hello! Magazine.

"Hoda Kotb will be replaced by — oh no, Matt Lauer-be," Colin quipped, causing the studio audience to chuckle as he flashed a picture of Matt wearing a Hoda wig.

Hoda has not responded to the joke yet, but she has already acknowledged that she loves the sketch comedy show and has mentioned it multiple times throughout her long and prestigious career.