i'd think it'd all depend on how quickly the ball got rolling on the continental flying. In an overnight situation, yeh, it's not going to happen. But, if CAL starts pulling airframes at a slower pace, i don't see any real reason skywest couldn't hire the necessary pilots, and through movement within in the company find enough to cover the addition of the new flying....
It's not like there aren't other pilots out there who want a job still...infact, now that the doors are closed at most places, eagle raised their mins, go-jet's getting guys, and there are plenty more waiting on the sidelines for their chance to get on with SOMEONE....ANYONE.