If they dont have enough qualified candidates, they WILL waive it.
They have had several new hires go from F/O to CPT on their second or third day of INDOC ! (as in basically hiring street captains). It has been 6-7 years ago, but it has happened.
As stated before. Only on the E120. Not the jet. And the people you speak of had a great deal more experience, freight, MIL and corp..., than the 200 TT pilots now. Big difference.