Pilot salaries are NOT going to bankrupt easyJet. The airline is a profitable, going concern. Just look at the share price. It's not exactly sky rocketed, but it has held up well during the downturn.
All this scheme is, is a cynical management ploy to:
a) Divide and conquer,
b) Lower costs because they can,
c) undermine the easyJet pilot community.
There will be further battles ahead I'm sure, but I do hope the easyJet BALPA CC have a strong mandate from their members. They are going to need it.
To say "I'm glad the Cadets are being treated like ****" is ridiculous. I'm an A320 Captain. I want my FO to be well rewarded for doing a professional job. If he/she doesn't have to worry about paying the rent/bank loans/food bills/kids nappies, then it's one less thing to distract them from their job in hand. Flying an aeroplane safely.
Stress manifests itself differently in all of us, but to advocate increasing stress levels directly through creating financial hardship is just plain bizarre.
Finally, it's worth considering that IF your airline were to fail, and you were to be a job hunter again, the T&C's you can expect will be directly linked to the success or failure of such management practices.
Be careful what you wish for, because anyone's airline could collapse this Winter.