I am getting webpack error

[VikramMaiya]

D:\socketexample\express-webpack-template-master\express-webpack-template-master>webpack -wd
Invalid configuration object. Webpack has been initialised using a configuration object that does not match the API schema.

• configuration.module has an unknown property 'loaders'. These properties are valid:
  object { exprContextCritical?, exprContextRecursive?, exprContextRegExp?, exprContextRequest?, noParse?, rules?, defaultRules?, unknownContextCritical?, unknownContextRecursive?, unknownContextRegExp?, unknownContextRequest?, unsafeCache?, wrappedContextCritical?, wrappedContextRecursive?, wrappedContextRegExp?, strictExportPresence?, strictThisContextOnImports? }
  -> Options affecting the normal modules (NormalModuleFactory).