Virgin has recruited for the 744 this year, but there aren't likely to be many courses required over the next couple of years unless the company forces people to move from the 744 to the 340 - which is bound to happen as commands come up. So, there will be some need for new 744 drivers but not a great deal. That said, the supply of rated Airbus pilots is not endless and, as was the case when I joined, it's more than likely that the company will retrain people they like.
As for the pay deal, wreckless, it has fully lived up to its promises. And I'm still contracted to only 750 hours a year.