This song was another step away from the group's softer records recorded with Smokey Robinson as producer, a change that Whitfield had begun with "Ain't Too Proud to Beg" earlier in the year. "I'm Losing You" features a much more dramatic arrangement than most contemporary Motown songs: a rock-styled guitar riff (devised by Temptations road manager/band director Cornelius Grant), sharp horn blasts and the Temptations' doo-wop vocals paint the backdrop for one of David Ruffin's trademark raspy lead vocals.
As The Funk Brothers keep time with the song's James Brown-inspired beat, Ruffin pointedly accuses his lover of gradually slipping away from him. The closing vocal riff to the song's chorus had the other four Temptations call out an extended "losing you...!" shout in falsetto. The choreography for the line, with each member cupping their hands around their mouths as they shout the line out, became a Temptations standard.
Among the most notable covers of "I'm Losing You" was a 1970 version by Motown rock band Rare Earth for their Ecology album. Rare Earth's 10-minute cover was edited for single release and peaked at No. 7, one position higher than the Temptations' original on the U.S. pop charts.
During the 1980s, on a Dallas, Texas-based Oak Lawn Records label, the song was covered by the group Uptown and transformed into an upbeat dance tune. This version achieved popularity at Dallas' famed Starck nightclub due to early play by DJ Rick Squillante and became a standard in many U.S. nightclubs, reaching the No. 80 spot on Billboard's Hot 100 in 1987.