A transmission has four planetary gear sets, four interconnecting members and six torque-transmitting mechanisms selectively engageable in different combinations of three to establish at least eight forward speed ratios. A first of the six torque-transmitting mechanisms is selectively engageable to connect the second member of the first planetary gear set to the stationary member. A second of the six torque-transmitting mechanisms is selectively engageable to connect the input member for common rotation with the second member of the third planetary gear set. At least one of the first and the second of the six torque-transmitting mechanisms is a selectable one-way clutch configured to have a first operating mode and a second operating mode, either of which modes may be selected.