They are blaming it on the treatment of women, but I really think there is more to this. There are women on GH that are her age, and they have not gotten the same treatment. In this case, I think it has more to do with the change in the nature of the show. They want to tell mob stories. Ava, Sonny, Carly, Jason, Sam, etc. are all related to that mob canvas. Genie is expensive, and I really think they didn't want to re-orient the show to accommodate her and create the kind of show they no longer want to write.
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http://www.tvovermind.com/general-hospital/genie-francis-exit-general-hospital :