Not necessarily - I'm assuming you mean Cordyline australis. The winter obviously caused serious damage - check the trunk from top to bottom for signs of rot, oozing orange gunk, blackened areas, with our without white discharge. If you can't find any, just leave it alone - it may well shoot from lower down the trunk or from the base, or both, but you may have to wait till late June for any growth to appear. If/when it does, cut back to that point. If it has rotted areas, and particularly with orangy stuff coming out, you will need to saw down past that point, but this is best left till April if at all possible to give the plant the best chance of regrowth.