Is he "uncuttable"? I don't think so.
I'm just posting this because I want to get some additional thoughts on the logistics of this. Whether Sanchez should be released or not isn't my point; he obviously isn't living up to his contract, and they never should have given him the deal they gave him. But there's a lot of pundits suggesting that his contract makes him untouchable, and I don't agree. It would be unpalatable, but it's doable, for sure.
The contract includes $20.5m guaranteed, between 2012 and 2013 (signing bonus of $8m, plus base salaries totaling $11.5m plus workout bonuses totaling $1m). His cap hit for 2013 is $12.9m. If they were to cut him prior to June 1, his accelerated cap hit would be $17.65m, and they could spread that out over the 2013 and 2014 cap.
However, if I understand this correctly, they could release him at the end of the 2012 season and absorb that entire accelerated cap hit into the 2012 cap. They have a total cap charge for 2012 of $96m. The cap is $120.6m. They would still be $6m shy of the cap. They have the space to do so. Of course, they'd still owe Sanchez $8.75m in guaranteed money, but it wouldn't count against the cap for 2013.
I think the Jets have bigger problems than Sanchez, and there aren't a lot of other options available at quarterback right now. I personally don't think they should release him. But if they did, there should be a way to avoid being strapped with a bad dead cap hit, I think.