No, it will be hell. The Jets will cut Pace, Scott, and Jason Smith (Thomas is gone anyway), which are really the only players they can cut without taking a major cap hit, due to their constant maneuvering. Go jetscap.com for confirmation.
They may get a couple of guys to restructure as well, but not likely as this isn't exactly a championship contention discount situation. So, assuming they make those cuts, here's the cap money they'll save:
Smith (12M)
Pace (8M)
Scott (7M)
=27M savings in cap space.
But here is thing: the Jets were already at $141 in cap commitments for 2013, so this reduces the number to 114. 114, with a cap number likely coming in near 122. That's $8M they have left over. As I said, they may get some restructuring, but nothing close to where they need to be. Why? Because in that $114 in cap commitments, it doesn't include the following free agents and probable cuts. They'll need to replace the following players under this scenario:
Bart Scott
Calvin Pace
Jason Smith
Yeremiah Bell
Mike DeVito
Nick Folk
Shonn Greene
Dustin Keller
Laron Landry
Aaron Maybin
Brandon Moore
Chaz Schilens
Matt Slauson
Bryan Thomas
Ropati Pitoitua
Jay Richardson
Laron Landry
Patrick Turner
That's eighteen players, including a whopping 12-14 starters! (Some of them are borderline.) So, let me ask you something: how are you going to replace eighteen players, including twelve starters, with $8M? Even if they get some insane restructuring done, there won't be any way to replace these guys with anything other than scrubs. And that is just to stay at the same level they are now, which isn't very good. The Jets have no young players on the rise. They are screwed; please tell where I am wrong.