Q.A red cordyline
Why is it wilting and going soft in the stem and will it recover after cutting it right back ?

Certified GKH Gardening Expert
This is usually a sign of infection in the soil. This is typically caused by overwatering, inadequate drainage in container, or poorly aerated soil. Can you include a photo? If it is wilting at the main stem, then it is likely too far gone. If there seems to be some rigidity to it still, then you can try wettable sulfur. This will kill off anything that is able to be killed.