Beachbud - Every UK airline apart from Virgin have taken or currently take low hours pilots and they are given their line training in revenue generating flights with passengers or cargo. They only do this after an advanced course (TR) and simulator time on the aircraft type they will be flying, company acclimatisation and then another simulator session to ensure they are competent (OPC/LPC). When they fly its always with a training captain (a senior pilot who has been flying for a long time and has had additional training too). Upon reaching a sector or hours threshold the FO is assessed and if competent, released to the line and can fly with any fleet captain going forward.
That includes BA taking cadets from OAA, Easy, TCX and Thomson and Monarch from CTC, FlyBe from Cabair, or every airline in the UK from the large number who pursued a modular route to aviation.
The issue highlighted by this thread is one company (Easyjet is not the only one doing this and definitely not the only one considering it) is asking students to pay for an over inflated type rating (a jet TR on the open market ranges from £18,000 to £22,000) and secured line hours, however their is no guarantee of a job at the end and a dangerous precedent could be set if these pilots are cut loose at the end of their contract to allow the next batch in. There is also a large pool of unemployed pilots due to the demise of 6+ UK airlines in the past 2 years, granted not every one will be rated on a 737 or A320, however many believe to hire from this experienced pool rather than from individuals willing to throw money (generally not their own) to gain employment is the wrong way going forward.
The terms and conditions are derisory and ultimately will hurt every pilot going forward if its allowed to continue.
I don't know what your plan is but be careful not to go down the sensationalist route. Your second sentence would lead me to believe you aren't fully aware of how this industry works.