Although this could appear to be so, I think it is not. The carboxylate carbon, after reaction is carbon dioxide. The benzene ring goes from a carbon-carbon bond to a carbon-hydrogen bond. If we were to add water to carbon dioxide, then we might draw an analogy to an hydrolysis reaction. If an ester were hydrolyzed, a C-OR bond is hydrolyzed with water and the C-OR bond is replaced with C-OH on carbon and HOR on oxygen.
In this example if water were added, the C-CO
2H bond is replaced with C-H and HOCO
2H (
H
2O + CO
2).
The reaction does not involve water. I simply used it as an analogy to an hydrolysis reaction. Since hydrolysis is not a redox reaction, I was drawing an analogy of this reaction to an hydrolysis reaction by introducing a phantom water. Carbon dioxide is the product.