It appears the post is sitting on the block foundation wall and my recommendation is to provide a temporary support and remove this post. cutting it out and trying to weld in place would be very difficult.
It appears like the post is rusted through on the right and if that is the case it may be rusted out all the way up where it is in contact.
So support the wall from the inside a temp wall to hold the weight, remove the post and install a new one.
I use capped or a T plate on posts or a u strap to hold in place and place materials like tar paper / roofing felt or a sill seal under the post to prevent the same from happening again(as fast).
Their may be a nail plate or T plate but some are toe nailed more demo after a temp wall is built to handle the weight will show what will be needed.