The Coronavirus disease 2019 (COVID-19) has not only had negative effects on employees’ health, but also on their prospects to gain and maintain employment. Using a longitudinal research design with two measurement points, we investigated the ramifications of various psychological and organizational resources on employees’ careers during the COVID-19 pandemic. Specifically, in a sample of German employees (N = 305), we investigated the role of psychological capital (PsyCap) for four career-related outcomes: career satisfaction, career engagement, coping with changes in career due to COVID-19, and career-related COVID-19 worries. We also employed leader–member exchange (LMX) as a moderator and career adaptability as a mediating variable in these relationships. Results from path analyses revealed a positive association between PsyCap and career satisfaction and career coping. Furthermore, PsyCap was indirectly related to career engagement through career adaptability. However, moderation analysis showed no moderating role of LMX on the link between PsyCap and career adaptability. Our study contributes to the systematic research concerning the role of psychological and organizational resources for employees’ careers and well-being, especially for crisis contexts.