Do weight reduction bands work if you wear them while working out?

No. It's the exercise intensity of your workout, not the wrap around bands that will lead to improved body composition. Don't be so hung up on the scale. You want to reduce fat and gain some muscle. That is what gives your body its shape (and no, you won't "bulk-up"). In a female fat "bulks you up" not muscle. Exercise without proper food is also not going to get you the results you are looking for.
NADA. Skip the gimmicks. Wt loss is a multi-billion industry that thrives on ignorance. Go to the physics, you have to burn more calories than you take in. Learn about your food and the calories in your choices, it wont take that long. Exercise in ways you like. Build muscle where you want it. This is doable. [and less hard when you dont waist support on the marketers of nonsense].