The emake stub recognises that it is being run by lto-wrapper but cannot exec gmake to handle it.
GNU LD has a Link Time Optimization feature which it can speed up by writing a makefile and running whatever tool is pointed to by the $MAKE environment variable. Unfortunately it works in /tmp and emake cannot support this. emake recognises that is is being called by a process named 'lto-wrapper' and instead exec’s "make" to handle the work.
It is possible that "make" is not in the PATH or that it may not be executable for some other reason.