It depends to whom you are sharing it to. Sometimes ,we find at work our current best friends whom we became very close to and you can tell them mostly everything ,and most of the time ,some are just what you can call colleagues and you feel not free and comfortable telling them your personal life with. Gossips and backbiting starts when some people without descretion knows about your personal life a lot. This can create problems and as you said might hurt your work. So , I guess one must be careful in sharing one's personal life if he/she thinks it is not really necessary.
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You shouldn't share personal information with anyone who isn't a close friend *outside* the workplace. No job can be considered permanent, so the friends you make there will usually not be permanent. That means that the connection between you and your workmates will usually be on a fairly casual level. Information given to *any* casual friend is always in danger of being shared by them with others that you don't know or don't want to let into your private life. Workplace friendships can change with changes in the workplace itself. Competition for promotions, sucking up to bosses, etc., can make you a victim of people who are looking out for number one and don't care what confidences they betray.
Source(s):
Personal experience.

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It depends on your relationship with the co-workers. It can give them some understanding of your position in life, but on the other hand it can sound whiny, or it can be used against you.
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depends on what your sharing!!!
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There is a reason that they have the saying "keep home at home and work at work..." I don't think it wise to allow your coworkers to become instant VIPs in your personal life. I would suggest if you start hanging out outside of work with a coworker or what not then that is fine. But make sure you trust a coworker before sharing much...word spreads like wildfire through employees its crazy.
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