I don't see how this can possibly be good news. First they make a load of crews redundant and then they are starting a cadet scheme?!
If you desperately want to give money to CTC and probably by inference to your future employer, then it might be good news!
If they are really short of crew, which I understand from reliable sources that they are, then why not look at people already type rated, or heavens forbid the 100's of qualified pilots already out there? Obviously they cost more money... Good business sense but hardly a glowing endorsement for future long term career prospects. What happens, after you fork out 60-70k? You fly for a few years and the same happens?
Flybe used to be one of my favourite carriers, now I would be equally as hesitant in supporting their business with my hard earned as I would be Ryanair.