I would and do so here in my location. The plant responds extremely well to this treatment and the appearance will be greatly improved. However, I believe I'd wait until a bit later - even in my zone 8, the end of January is a bit too early for this chore with too much winter weather still ahead.

I agree with gardengal. It won't hurt to cut off any foliage that is obviously dead, but wait to shape until late February or so.