Up to 60 jobs losses are expected to go as the publisher attempts to cut costs and become more digitally-focussed.
The new structure will centre around three main operating divisions: business publishing, business information and exhibitions.
New Media Age and Design Week will become digital-only publications and NMA spin-off website Reputation Online will close.
NMA publisher Andy Oakes was among the first to announce his departure via Twitter after six years at the company. The editor of Pitch, its adland focussed digital property, Sonoo Singh, who was among those who lost their jobs in Centaur's last restructure in December 2008, also confirmed she is "no longer at Pitch".
Centaur has yet to confirm if the website Pitch will cease operating completely but assistant Joe Fernandez announced in a tweet: "If you haven't heard already, Pitch is part of these moves at Centaur..."
Elsewhere, the Logistics and Supply Chain and Recruiter portfolios are also to be sold, as are the two monthly engineering titles, MWP and Process Engineering, and the Ascent B2B portfolio.
The restructure will see marketing and creative titles, including Marketing Week and Creative Review, transferred into a new business publishing division.
That division will also be the new home to a merged legal and financial group, overseeing titles including The Lawyer, and a third newly merged unit that will take in engineering and HR titles.
Tim Potter will continue to head Centaur’s business publishing division, while former Emap Inform chief executive Simon Middelboe will join the company in August to head the business information division.
The group is in the process of appointing a new executive to head up the exhibitions division as current head Calum Taylor has already resigned to set up his own business.
Centaur said the changes would result in "significant cost savings and operational benefits" and would provide a more robust platform for revenue growth and margin improvement" as part of its ongoing digital migration.
Geoff Wilmot, chief executive, said: "These restructuring initiatives will substantially improve the balance of the Group's revenue profile, our rate of growth and margins.
"The strengthening of the management team and operational changes are the next step in our repositioning to take full advantage of the significant growth opportunities in digital media and events.
"They will also reinforce our focus on building high value subscription revenues and provide a robust operational structure to support acquisitions."
In February, Centaur posted a pre-tax loss of £1.6m for the last six months of 2010, despite a 17% lift in advertising.