Updated labels section in README.md

Author: Stanislav Idolov

README.md

@@ -41,20 +41,7 @@ Magento is thankful for any contribution that can improve our code base, documen
 </a>
 
 <h3>Labels applied by the Magento team</h3>
-
-| Label        | Description           | 
-| ------------- |-------------|
-| ![DOC](http://devdocs.magento.com/common/images/github_DOC.png) | Affects Documentation domain. |
-| ![PROD](http://devdocs.magento.com/common/images/github_PROD.png) | Affects the Product team (mostly feature requests or business logic change). |
-| ![TECH](http://devdocs.magento.com/common/images/github_TECH.png) | Affects Architect Group (mostly to make decisions around technology changes). |
-| ![accept](http://devdocs.magento.com/common/images/github_accept.png) | The pull request has been accepted and will be merged into mainline code. |
-| ![reject](http://devdocs.magento.com/common/images/github_reject.png) | The pull request has been rejected and will not be merged into mainline code. Possible reasons can include but are not limited to: issue has already been fixed in another code contribution, or there is an issue with the code contribution. |
-| ![bug report](http://devdocs.magento.com/common/images/github_bug.png) | The Magento Team has confirmed that this issue contains the minimum required information to reproduce. |
-| ![acknowledged](http://devdocs.magento.com/common/images/gitHub_acknowledged.png) | The Magento Team has validated the issue and an internal ticket has been created. |
-| ![in progress](http://devdocs.magento.com/common/images/github_inProgress.png) | The internal ticket is currently in progress, fix is scheduled to be delivered. |
-| ![needs update](http://devdocs.magento.com/common/images/github_needsUpdate.png) | The Magento Team needs additional information from the reporter to properly prioritize and process the issue or pull request. |
-
-To learn more about issue gate labels click [here](https://github.com/magento/magento2/wiki/Magento-Issue-Gates)
+We apply labels to public Pull Requests and Issues to help other participants retrieve additional information about current progress, component assignments, Magento release lines, and much more. Find detailed information about labels used in Magento 2 repositories in the corresponded section of the <a href="https://devdocs.magento.com/guides/v2.3/contributor-guide/contributing.html#labels">Code Contributions</a> guide.
 
 <h2>Reporting security issues</h2>