How do I restructure content to be more user friendly?

I've got a content management system that isn't the most usable at the moment, but it is pretty intuitive for the end user. The front facing content is a mess, however, and someone decided that most of the pages should be styled like craiglist - tons of links.

Google Analytics is telling us that the bounce rate is high, so I think a restructuring is needed.

I've gathered as much as I can without direct user testing to find where users are clicking the most - instead of having information vomit in the form of a bunch of links, my approach would be to create some graphic buttons or something similar to highlight the top four pages that users are clicking on, and creating some verbiage that incorporates the links to other areas of the site.

I'd like to know if there are any good guidelines in regards to content and data presentation or even some websites that do a great job of organizing pages that are mostly link dumps.

Edit: Here's a good example of something similar to what I'm facing. This particular page is less front-facing than mine (so probably less used) but doesn't have the best layout nonetheless.

http://www.mylakehead.ca/programs/?mn=4