Oxidation and Reduction are chemical reactions. Always these two reactions occur together. When there is an oxidation, there is always reduction. When one is oxidised the other is reduced.
What is Oxidation & Reduction:
The addition of Oxygen or Removal of hydrogen atoms or Loss of electrons (generally acceptable definition) is Oxidation
The addition of Hydrogen atoms or removal of oxygen atoms or Gain of electrons (generally acceptable definition) is Reduction.
Example: C6H12O6+6O2=6CO2+6H20+ENERGY
In the above chemical reaction, glucose is oxidised (i.e.,12 Hydrogen are removed from the sugar (glucose) molecule) into carbon dioxide whereas oxygen is reduced ( i.e. 12 Hydrogen are added to oxygen atom) into water.
Every Hydrogen atom has one electron, so by removing or adding hydrogen, the same number of electrons are removed or added.
Always remember:
LEO : Loss of electrons is Oxidation
GER : Gain of electrons is Reduction