If I recall correctly, when Monarch met its demise Tui pulled a similar
PR stunt, I think they took a grand total of around 4 pilots in the end, with experienced captains being declined an interview... DEC was not an option, and nowhere in that article above does it say that the captains being given the opportunity to work for TUI would be employed as Captains.
TUI were advertising for 'pilots' prior to the bankruptcy of Thomas cook and it took more than a precursory glance at the advertisement and terms to realise that they were, in fact, recruiting for FO positions only.
Im going to make a controversial point here. The removal of seniority would benefit the industry greatly, in todays world seniority is little more than 'golden handcuffs' that prevents the movement of experienced pilots and in many cases rewards mediocrity, whilst also allowing an airline to gain experienced guys very cheaply. Without it a pilot could freely sell his skill and experience in search of the highest bidder or airline with the most favourable Ts and Cs, Of course the guys at the top of the list are probably less favourable to this than those languishing in the middle or bottom.. but overall if one was towards the top of the list, that would imply a large measure of experience, which with the demise of seniority would mean you would possess a very marketable quality.
it exists in hardly any other industry, and by maintaining it the pilot community as a whole is maintaining a rod for it's own back that ultimately, aside from 'the few' who happened to be in the right airline at the right time', causes an industry wide 'cap' of terms and conditions.