They say not, that the newer Lithium batteries have no memory. But, I got into the habit of having spares, running them down before switching, and constantly rotating them, and they seem to last for 5 or more years.
However, the batteries in my and my wife's laptops, which don't 'cycle' because they just sit while plugged in most of the time, rarely make it past 3 years.
I'll stick with completely cycling them, I think.