Morning Money Memo …

Falling gasoline prices may be great for consumers, but they're tough on energy firms and their workers. The latest layoffs announcement comes from the oilfield services firm Baker Hughes, which plans to cut 7,000 employees - 11 percent of its workforce. Global oil prices have plunged 60 percent since last June, making some drilling operations unprofitable. "While market demand ended up being more resilient in the fourth quarter than many had predicted, the recent declines seen in rig counts will clearly affect results in 2015," said company CEO Martin Craighead. Speaking to analysts about the layoffs, he said, "This is really the crappy part of the job." Last week, Schlumberger announced plans to cut 9,000 employees. Several other energy firms have made layoff announcements.

Toyota Still Biggest Auto Manufacturer

Toyota is the world's biggest auto manufacturer for the third year in a row. The Japanese manufacturer sold nearly 10.25 million cars and trucks worldwide in 2014. But it expects to sell fewer trucks and cars this year, forecasting sales will fall 1 percent this year, largely because of a projected 9 percent plunge in Japan sales. Volkswagen and General Motors are runners-up in total revenues.

Netflix Adds Customers

The picture looks bright for Netflix. The video streaming and production company added 4.3 million customers worldwide during the fourth quarter, its largest expansion ever. Netflix shares jumped 16 percent after the quarterly report was released. The company announced plans for an international expansion.

WalMart to Give Tax Refunds in Cash

WalMart stores will offer shoppers tax refunds in cash, expanding their range of financial services. Direct2Cash will be available at thousands of locations. Consumers will be able to cash their refund checks at little or no cost. More than one in four U.S. American adults don't have traditional bank accounts, and WalMart is targeting them with a range of services.

ABC News' Jim Ryan and The Associated Press contributed to this report.