Promotions Versus Friends

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Is it fair when two friends work together and one receives a promotion that the guidelines to friendships change? I feel that with promotions comes greater responsibility and that time management becomes important in getting your job done, so closeness to that friend dwindles at work. Then the awful word of fraternization pops up and after work get togethers or outings become frowned upon. I feel what happens at work should stay at work and friendships are one of the most important things that we have going for us. Does anyone else out there agree with me?