Google's made their attempt a few years ago. It's called GoLD, or, gold [0]. However, its key benefit is in lower link time processing of object files and libraries. Important if you're building apps that take minutes or hours to build every day in a CI/CD system. Another example is browser source branches (10s of 1000s object files, libraries, and objects). Key innovation was to not use GNU's BFD [1]. BFD is a little like llvm's IR but for linkers that support multiple architectures, multiple executable formats (raw like DOS COM binaries images, ELF, COFF, DWARF, etc), and multiple executable scenarios (static vs. shared libs). Instead, Google focused exclusively on ELF (which is almost 100%, universally the standard on the major *nixes like Linux & BSD), and the few most popular architectures (i386, amd64, arm, ppc).
gold was later contributed to and can now be found as a part of GNU binutils.
gold is a good linker for the existing formats, but there are a number of systematic improvements that can be made, ranging from -Bdirect / two-level namespace support (see my other comment) to just rethinking how programs get compiled and linked in the first place.
Rust, for instance, bypasses a lot of this complexity by not supporting things like .o files: an entire set of Rust source files is compiled at once, so optimizations can be applied at source level across everything. The downside is higher compile times and memory usage, especially when making one change to one file. There are almost certainly better solutions here.
I really wish we had TP-style modules [0] information in our object file formats. What seems so simple conceptually is nearly impossible to replicate?
Can't figure out why C, C++, Java or C# never got there and why JS is puking all over the concept with half-baked, crappy syntactic look-alike (but not work work-alike) modules. Ughh...
gold was later contributed to and can now be found as a part of GNU binutils.
[0] https://en.wikipedia.org/wiki/Gold_(linker)
[1] https://en.wikipedia.org/wiki/Binary_File_Descriptor_library