Ali, you have a marvellous sense of humour. NJE, foreign pilot sponsorship? Pah!!
Wait though, maybe it's not as crazy as it sounds. We could bring in low-timers prepared to sell a kidney to pay for their own type rating in a Ryanair kinda way.
We could then impose a change in contracts as we have before. Cut pay, change terms and conditions, all the stuff netjets and Silverhawk have mentioned (though some of the others on here pretend never happened).
Next we could have the pilots accomodation downgraded to tents and have a box of food delivered to them at home which they could then carry with them for six days (don't laugh, the latter was suggested by a bright spark in Lisbon).
It is not as rosy a picture as certain people in here would have you believe. That said it's still a lot better perhaps than 'pure' corporate. Just don't be surprised when the rules are changed without consultation.