In the process of committing build outputs to disk, Electric Make (eMake) was unable to create the named symlink. The OS error message provides the specific cause of the failure.
Because the error involves an external system in this context (the filesystem on the eMake host), the list of possible causes for this error is virtually limitless: a corrupted filesystem; hardware failure; insufficient permissions; and so on. Refer to the specific OS error message to determine the cause of the failure.
This error can also occur due to ClearCase ROFS. See KBEA-00068 - Overcoming problems with MVFS read-only file systems.