When you are dealing with a person who is basically insecure, you can make pronouncements about job security until the cows come home, and he is going to think that the cows have come home to take his job. The fact is that there is no overnight remedy.
The next time he asks you if a layoff is around the corner, give him an honest answer that nothing has changed. Tell him that you are becoming increasingly concerned about his repeated questions in this area, and then ask for his help. Tell him that you do not know what to do to get this behavior to stop, and then ask him to suggest a solution. He may be able to come up with his own commitment to change, and that can be a step in the right direction.
You may also want to suggest that he speak to one of the human resources specialists or an employee assistance specialist to discuss this situation further. The irony is that the more he focuses on being laid off, as opposed to focusing on his work, the more he is increasing his chances of losing this job.
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