Why will companies pay more when the labor supply will increase? The same company that was hiring foreign workers to save a buck won't pay extra to retain that

Why will companies pay more when the labor supply will increase? The same company that was hiring foreign workers to save a buck won't pay extra to retain that worker. That company will now hire other entry level foreign workers who they can pay peanuts instead, who they can now hire because another company isn't holding their visa hostage anymore.