Actually, I don't think it is that low ! They want 3000 factorised hours. Any FO's in other airlines will have all their jet hours reduced by 20%, and any other hours by possibly more.
I have 3700 hrs, am almost at my company min of 4000 hrs reqd for a command, yet because I have 2000 light aircraft hours my easyjet factorised hours - 1960 - I am short of the mark, and quite rightly so.