OBJECTIVE: This study aims to examine perceived job insecurity as an antecedent of adverse psychological well-being and job outcomes (i.e., job satisfaction and organizational commitment), applying conservation of resources and organizational support theories. The study also investigated the role of perceived supervisor support as a moderator in the study. METHODS: Two-wave longitudinal data (n = 385) was collected with two months between Time 1 and Time 2. Data collected from employees working in two MNCs in Pakistan. A conceptual framework was developed where the mediating role of work stress on the job insecurity relationship is conditional to the values of job satisfaction and organizational commitment. RESULTS: During analysis, a positive association was found between job insecurity and work stress. Further, job insecurity led to work stress and it negatively led to job satisfaction and organizational commitment. Perceived supervisor support moderated work stress and job satisfaction and organizational commitment. The moderated mediation results indicate that supervisor support moderated the indirect effect of job insecurity on work outcomes. CONCLUSION: This paper examines the relationship between job insecurity and employee work outcomes amidst COVID-19. The findings have significant implications for employers and employees. Moreover, study findings expand our knowledge of COR theory and Organizational support theory for MNCs employees in the Covid-19 pandemic.