Mormon theology defines "saved" and "salvation" in two ways.
The first 'salvation' is a general salvation whereby Jesus' sacrifice allows all to be resurrected with a body and live in some level of 'heaven' there is no hell in mormon theology.
The second definition of salvation/saved refers to the mormon doctrine of eternal progression to godhood / exaltation. Within this definition, mormons must perform rituals and various 'works' in order to be deemed worthy of becoming a god.
If one follows mormon theology from their scriptures and the writings/teachings of their apostles and prophets, there are numerous evidence of the belief that any degree of 'salvation' is based upon works or merits.
Finally, the question "only way to be saved" is also muddled in mormon theology. According to mormon theology, heavenly father (God) was previously a man in the distance past. Teachings indicate that heavenly father was also a sinner that required a 'savior' as well, and that this pattern extends into the infinite past. Mormons are generally reluctant to discuss this or tend to gloss it over as opinion. Teachings of mormon prophets also indicates that we can by our own works, cleanse ourselves of 'sin' - negating the need for a savior. Again, this is deeply buried in mormon thought and rarely brought to light.
“Teachings of mormon prophets also indicates that we can by our own works, cleanse ourselves of ‘sin’”
That part sounds like Catholics.
BTW: I’m writing this just after hearing Beck on Fox News Sunday state that he was saved by Jesus Christ but that he has then, to work to do good.
That, in my opinion, is mainstream for what most of Christians believe.